CIBC Private Wealth Group LLC Has $7.26 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

CIBC Private Wealth Group LLC decreased its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 17.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,371 shares of the company’s stock after selling 34,262 shares during the period. CIBC Private Wealth Group LLC owned 0.16% of Braze worth $7,257,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after acquiring an additional 57,713 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Braze in the 4th quarter worth approximately $498,000. Holocene Advisors LP lifted its holdings in Braze by 52.7% during the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after buying an additional 29,123 shares in the last quarter. Geode Capital Management LLC boosted its position in Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares during the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Braze in the 3rd quarter valued at $1,617,000. Institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

Shares of BRZE opened at $36.37 on Wednesday. The firm has a market cap of $3.76 billion, a P/E ratio of -31.90 and a beta of 1.17. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $48.33. The firm’s 50 day moving average price is $39.33 and its two-hundred day moving average price is $38.05.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million for the quarter, compared to analysts’ expectations of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. On average, sell-side analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In other Braze news, CTO Jonathan Hyman sold 5,210 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the sale, the chief technology officer now owns 157,810 shares in the company, valued at approximately $6,441,804.20. The trade was a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $41.46, for a total transaction of $62,190.00. Following the transaction, the director now directly owns 15,269 shares of the company’s stock, valued at $633,052.74. This represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,970 shares of company stock worth $3,904,111 over the last three months. Corporate insiders own 24.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens began coverage on Braze in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price target on the stock. Piper Sandler raised their target price on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. William Blair reissued an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 target price (up previously from $50.00) on shares of Braze in a research report on Friday. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $53.00.

Braze 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.