B. Metzler seel. Sohn & Co. Holding AG Acquires New Stake in Braze, Inc. (NASDAQ:BRZE)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Braze, Inc. (NASDAQ:BRZE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 54,003 shares of the company’s stock, valued at approximately $1,746,000. B. Metzler seel. Sohn & Co. Holding AG owned about 0.05% of Braze at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. KBC Group NV lifted its position in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Braze by 5.0% during the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after buying an additional 19,567 shares during the period. WCM Investment Management LLC boosted its stake in Braze by 14.4% during the third quarter. WCM Investment Management LLC now owns 398,022 shares of the company’s stock valued at $13,222,000 after buying an additional 50,113 shares during the period. Assetmark Inc. boosted its stake in Braze by 7.6% during the third quarter. Assetmark Inc. now owns 27,181 shares of the company’s stock valued at $879,000 after buying an additional 1,923 shares during the period. Finally, SpiderRock Advisors LLC bought a new stake in Braze during the third quarter valued at $1,122,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BRZE shares. JMP Securities reissued a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Loop Capital restated a “buy” rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Piper Sandler lowered their price target on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. TD Cowen decreased their price objective on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Oppenheimer decreased their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

Braze Stock Performance

Braze stock opened at $38.71 on Friday. The stock’s 50 day simple moving average is $32.92 and its two-hundred day simple moving average is $37.48. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -32.80 and a beta of 1.03. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping 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 firm had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the previous year, the firm posted ($0.30) EPS. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, analysts predict that Braze, Inc. will post -1.02 earnings per share for the current year.

Insider Transactions at Braze

In related news, CTO Jonathan Hyman sold 6,930 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the transaction, the chief technology officer now directly owns 163,020 shares of the company’s stock, valued at approximately $5,616,039. This represents a 4.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares in the company, valued at $273,919.05. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 190,479 shares of company stock valued at $7,148,911 in the last ninety days. 24.03% of the stock is currently owned by corporate insiders.

Braze Company 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.