Strategic Vision Investment Ltd lowered its position in Braze, Inc. (NASDAQ:BRZE – Free Report) by 93.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,397 shares of the company’s stock after selling 216,730 shares during the period. Braze accounts for 0.7% of Strategic Vision Investment Ltd’s portfolio, making the stock its 8th largest holding. Strategic Vision Investment Ltd’s holdings in Braze were worth $673,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in BRZE. BluePath Capital Management LLC bought a new stake in Braze during the third quarter worth approximately $31,000. Royal Bank of Canada boosted its position in Braze by 189.3% during the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after purchasing an additional 759 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Braze during the third quarter worth approximately $61,000. Parallel Advisors LLC boosted its position in Braze by 19.8% during the second quarter. Parallel Advisors LLC now owns 1,575 shares of the company’s stock worth $69,000 after purchasing an additional 260 shares during the period. Finally, State of Wyoming bought a new stake in Braze during the second quarter worth approximately $73,000. Institutional investors own 49.47% of the company’s stock.
Wall Street Analyst Weigh In
BRZE has been the subject of several research reports. Raymond James raised their target price on Braze from $52.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 7th. BTIG Research increased their price objective on Braze from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 7th. Barclays increased their price objective on Braze from $65.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, December 7th. Piper Sandler increased their price objective on Braze from $57.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, December 7th. Finally, JPMorgan Chase & Co. raised their target price on Braze from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, November 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.65.
Insiders Place Their Bets
In related news, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the transaction, the insider now directly owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Pankaj Malik sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $53.73, for a total transaction of $53,730.00. Following the transaction, the chief accounting officer now directly owns 77,853 shares of the company’s stock, valued at approximately $4,183,041.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the transaction, the insider now directly owns 244,291 shares in the company, valued at $13,914,815.36. The disclosure for this sale can be found here. Insiders have sold 145,871 shares of company stock valued at $7,787,856 in the last 90 days. 26.48% of the stock is currently owned by insiders.
Braze Stock Down 3.0 %
Braze stock traded down $1.81 during midday trading on Friday, reaching $57.92. The stock had a trading volume of 1,184,239 shares, compared to its average volume of 548,882. The firm’s fifty day simple moving average is $54.22 and its 200-day simple moving average is $49.12. Braze, Inc. has a 1-year low of $25.76 and a 1-year high of $61.53.
Braze (NASDAQ:BRZE – Get Free Report) last posted its quarterly earnings results on Wednesday, December 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.08. The firm had revenue of $124.00 million for the quarter, compared to analyst estimates of $117.30 million. Braze had a negative return on equity of 29.16% and a negative net margin of 30.57%. The business’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) EPS. On average, analysts predict that Braze, Inc. will post -1.28 earnings per share for the current fiscal year.
Braze Company Profile
Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.