WCM Investment Management LLC Acquires 50,113 Shares of Braze, Inc. (NASDAQ:BRZE)

WCM Investment Management LLC grew its holdings in Braze, Inc. (NASDAQ:BRZE) by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 398,022 shares of the company’s stock after purchasing an additional 50,113 shares during the quarter. WCM Investment Management LLC owned approximately 0.39% of Braze worth $13,222,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BRZE. SG Americas Securities LLC bought a new position in shares of Braze during the 1st quarter worth approximately $114,000. Oppenheimer Asset Management Inc. raised its stake in shares of Braze by 15.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,938 shares of the company’s stock worth $307,000 after acquiring an additional 923 shares in the last quarter. Swiss National Bank raised its stake in shares of Braze by 14.3% during the 1st quarter. Swiss National Bank now owns 106,000 shares of the company’s stock worth $4,696,000 after acquiring an additional 13,300 shares in the last quarter. Sei Investments Co. raised its stake in shares of Braze by 12.9% during the 1st quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock worth $5,005,000 after acquiring an additional 12,878 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Braze during the 1st quarter worth approximately $121,000. Institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $35.73 on Tuesday. The company’s fifty day moving average price is $33.27 and its 200 day moving average price is $37.74. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53. The company has a market capitalization of $3.67 billion, a PE ratio of -30.28 and a beta of 1.03.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Loop Capital reiterated a “buy” rating and set a $75.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Stifel Nicolaus initiated coverage on shares of Braze in a research note on Tuesday, October 22nd. They set a “buy” rating and a $37.00 price objective for the company. Piper Sandler dropped their target price on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. Finally, Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and an average target price of $55.32.

Insider Buying and Selling

In related news, Director Fernando Machado sold 1,377 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the sale, the director now directly owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the transaction, the director now owns 8,937 shares of the company’s stock, valued at $273,919.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,658 shares of company stock valued at $7,980,396. Corporate insiders own 24.03% of the company’s stock.

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.