Silvercrest Asset Management Group LLC Purchases Shares of 128,973 Braze, Inc. (NASDAQ:BRZE)

Silvercrest Asset Management Group LLC purchased a new stake in Braze, Inc. (NASDAQ:BRZE) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 128,973 shares of the company’s stock, valued at approximately $5,714,000.

Other large investors have also recently bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in Braze in the fourth quarter valued at $40,000. Covestor Ltd grew its holdings in shares of Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Braze during the fourth quarter worth $42,000. RiverPark Advisors LLC grew its holdings in shares of Braze by 360.9% during the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Braze by 17.8% during the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after purchasing an additional 290 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on BRZE shares. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $48.00 to $56.00 in a report on Wednesday, July 10th. TD Cowen decreased their target price on Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Oppenheimer restated an “outperform” rating and set a $60.00 target price on shares of Braze in a report on Wednesday, June 12th. Citigroup upped their price target on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, Wells Fargo & Company cut their price target on Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $61.13.

Braze Stock Performance

BRZE traded down $0.07 during midday trading on Tuesday, reaching $42.56. 233,749 shares of the company were exchanged, compared to its average volume of 948,702. Braze, Inc. has a one year low of $33.93 and a one year high of $61.53. The stock has a market capitalization of $4.33 billion, a P/E ratio of -33.61 and a beta of 1.06. The stock’s 50-day simple moving average is $38.57 and its 200 day simple moving average is $45.67.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.01. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The business had revenue of $135.46 million for the quarter, compared to analysts’ expectations of $131.56 million. On average, research analysts anticipate that Braze, Inc. will post -1.21 earnings per share for the current year.

Insider Activity at Braze

In related news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.93, for a total value of $184,185.00. Following the sale, the chief financial officer now owns 258,681 shares of the company’s stock, valued at approximately $10,587,813.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Braze news, General Counsel Susan Wiseman sold 7,079 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $42.18, for a total transaction of $298,592.22. Following the transaction, the general counsel now owns 221,840 shares of the company’s stock, valued at approximately $9,357,211.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.93, for a total value of $184,185.00. Following the transaction, the chief financial officer now directly owns 258,681 shares in the company, valued at approximately $10,587,813.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,164 shares of company stock valued at $3,556,184. 24.03% of the stock is owned by insiders.

About Braze

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.