Stephens Investment Management Group LLC Makes New Investment in Braze, Inc. (NASDAQ:BRZE)

Stephens Investment Management Group LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 642,970 shares of the company’s stock, valued at approximately $20,794,000. Stephens Investment Management Group LLC owned about 0.63% of Braze at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BRZE. Allspring Global Investments Holdings LLC increased its holdings in shares of Braze by 0.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock valued at $13,406,000 after purchasing an additional 984 shares during the last quarter. RiverPark Advisors LLC increased its holdings in shares of Braze by 360.9% in the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after purchasing an additional 1,411 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Braze by 17.7% in the first quarter. Quantbot Technologies LP now owns 54,387 shares of the company’s stock valued at $2,409,000 after purchasing an additional 8,184 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Braze in the first quarter valued at $114,000. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Braze by 15.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,938 shares of the company’s stock valued at $307,000 after acquiring an additional 923 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on BRZE. Barclays decreased their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. UBS Group decreased their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Stifel Nicolaus began coverage on shares of Braze in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 price target on the stock. Oppenheimer decreased their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. Finally, Piper Sandler decreased their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

Braze Trading Up 0.7 %

BRZE stock opened at $31.67 on Friday. The stock has a market capitalization of $3.25 billion, a P/E ratio of -26.84 and a beta of 1.03. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53. The firm has a 50-day moving average price of $34.89 and a 200-day moving average price of $38.10.

Braze (NASDAQ:BRZE) last posted 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 firm had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) earnings per share. As a group, equities analysts predict that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Insider Activity at Braze

In related news, CAO Pankaj Malik sold 2,453 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $101,480.61. Following the completion of the transaction, the chief accounting officer now owns 70,527 shares in the company, valued at $2,917,701.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Pankaj Malik sold 2,453 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $101,480.61. Following the completion of the transaction, the chief accounting officer now owns 70,527 shares in the company, valued at $2,917,701.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction that occurred 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 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 sold a total of 201,658 shares of company stock worth $7,980,396 in the last quarter. 24.03% of the stock is owned by insiders.

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.