Stephens Investment Management Group LLC Buys Shares of 642,970 Braze, Inc. (NASDAQ:BRZE)

Stephens Investment Management Group LLC bought a new stake in shares of Braze, Inc. (NASDAQ:BRZE) in the third quarter, Holdings Channel.com reports. The fund bought 642,970 shares of the company’s stock, valued at approximately $20,794,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BRZE. Comerica Bank grew its position in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the period. Blair William & Co. IL grew its position in shares of Braze by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after buying an additional 283 shares during the period. Advisors Asset Management Inc. grew its position in shares of Braze by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after buying an additional 290 shares during the period. American International Group Inc. grew its position in shares of Braze by 1.2% during the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after buying an additional 310 shares during the period. Finally, Creative Planning grew its position in shares of Braze by 1.7% during the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after buying an additional 384 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Transactions at Braze

In other news, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Fernando Machado sold 1,377 shares of Braze 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 owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,658 shares of company stock worth $7,980,396 in the last ninety days. Company insiders own 24.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BRZE. Scotiabank raised shares of Braze from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Macquarie started coverage on shares of Braze in a research report on Thursday. They set a “neutral” rating and a $30.00 price objective for the company. UBS Group cut their target price on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Oppenheimer cut their target price on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Finally, Piper Sandler cut their target price on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

Braze Trading Up 0.7 %

Shares of NASDAQ:BRZE opened at $31.67 on Friday. The stock has a market cap of $3.25 billion, a PE ratio of -26.84 and a beta of 1.03. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The stock’s fifty day simple moving average is $34.89 and its two-hundred day simple moving average is $38.10.

Braze (NASDAQ:BRZE) last released its 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. The company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) EPS. On average, sell-side analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

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.