Quantbot Technologies LP Raises Position in Braze, Inc. (NASDAQ:BRZE)

Quantbot Technologies LP raised its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 100.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,826 shares of the company’s stock after acquiring an additional 54,439 shares during the quarter. Quantbot Technologies LP owned approximately 0.11% of Braze worth $4,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of BRZE. Charles Schwab Investment Management Inc. lifted its stake in shares of Braze by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,593 shares of the company’s stock valued at $21,124,000 after buying an additional 20,798 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Braze by 24.9% during the 4th quarter. Principal Financial Group Inc. now owns 116,989 shares of the company’s stock valued at $6,216,000 after buying an additional 23,322 shares in the last quarter. Norges Bank purchased a new position in shares of Braze during the 4th quarter valued at $37,584,000. Quest Partners LLC purchased a new position in shares of Braze during the 4th quarter valued at $701,000. Finally, Assetmark Inc. purchased a new position in shares of Braze during the 4th quarter valued at $580,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BRZE. BTIG Research lowered their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Raymond James reduced their price target on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, June 7th. Citigroup lifted their price target on shares of Braze from $52.00 to $58.00 and gave the company a “buy” rating in a report on Friday, June 7th. Canaccord Genuity Group lifted their price target on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Braze in a report on Friday, September 6th. Seventeen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $60.50.

Braze Stock Down 0.1 %

Braze stock opened at $35.10 on Tuesday. Braze, Inc. has a twelve month low of $33.24 and a twelve month high of $61.53. The company’s 50-day moving average price is $40.76 and its 200-day moving average price is $42.04. The company has a market cap of $3.57 billion, a PE ratio of -27.42 and a beta of 1.07.

Braze (NASDAQ:BRZE) last released 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 net margin of 22.01% and a negative return on equity of 25.89%. The firm had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the previous year, the company earned ($0.30) EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, sell-side analysts expect that Braze, Inc. will post -1.05 earnings per share for the current fiscal year.

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 shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the sale, the general counsel now directly owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $43.41, for a total transaction of $195,345.00. Following the completion of the sale, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at $9,385,589.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,345 shares of company stock valued at $8,232,925. Company insiders own 24.03% of the company’s stock.

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.