Assetmark Inc. Increases Stock Position in Braze, Inc. (NASDAQ:BRZE)

Assetmark Inc. lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,181 shares of the company’s stock after buying an additional 1,923 shares during the quarter. Assetmark Inc.’s holdings in Braze were worth $879,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BRZE. M&G Plc purchased a new stake in Braze in the 1st quarter worth approximately $6,724,000. Point72 Asset Management L.P. purchased a new stake in shares of Braze during the 2nd quarter valued at $10,166,000. Vanguard Group Inc. raised its position in shares of Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after buying an additional 148,366 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Braze during the 1st quarter valued at $5,714,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Braze during the 2nd quarter valued at $971,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Macquarie assumed coverage on shares of Braze in a report on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price on the stock. Oppenheimer reduced their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Braze in a report on Tuesday, September 24th. Barclays reduced their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and a consensus target price of $54.47.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 3,447 shares of Braze stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the sale, the general counsel now owns 206,930 shares in the company, valued at approximately $9,104,920. This trade represents a 1.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,252 shares of company stock valued at $5,977,839 over the last three months. 24.03% of the stock is currently owned by company insiders.

Braze Stock Down 3.9 %

Shares of BRZE opened at $35.06 on Friday. The stock has a 50 day moving average price of $32.83 and a 200 day moving average price of $37.63. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -29.71 and a beta of 1.03. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, equities analysts anticipate that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Braze Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.