Braze, Inc. (NASDAQ:BRZE) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,181 shares of the company’s stock after buying an additional 1,923 shares during the quarter. Assetmark Inc.’s holdings in Braze were worth $879,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Covestor Ltd boosted its position in shares of Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after buying an additional 738 shares during the period. Comerica Bank increased its holdings in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares in the last quarter. Quarry LP acquired a new stake in Braze during the 2nd quarter valued at $50,000. Advisors Asset Management Inc. raised its stake in Braze by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after purchasing an additional 290 shares during the period. Finally, Canton Hathaway LLC grew its holdings in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after acquiring an additional 1,187 shares in the last quarter. 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 the stock in a transaction dated 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 $1,720,244.10. This represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Isabelle Winkles sold 4,091 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $43.28, for a total transaction of $177,058.48. Following the completion of the sale, the chief financial officer now directly owns 230,329 shares in the company, valued at approximately $9,968,639.12. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,252 shares of company stock valued at $5,977,839 in the last three months. 24.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on BRZE shares. DA Davidson cut their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Macquarie assumed coverage on shares of Braze in a research note on Thursday, October 31st. They set a “neutral” rating and a $30.00 price objective on the stock. 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. TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Oppenheimer cut their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and an average target price of $54.47.

Braze Trading Down 3.9 %

Shares of Braze stock opened at $35.06 on Friday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -29.71 and a beta of 1.03. The business’s 50 day simple moving average is $32.83 and its 200-day simple moving average is $37.63.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter last year, the firm posted ($0.30) earnings per share. Braze’s revenue was up 26.4% compared to the same quarter last year. Sell-side analysts predict that Braze, Inc. will post -1.02 earnings per share for the current year.

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.