Algert Global LLC Sells 17,210 Shares of Braze, Inc. (NASDAQ:BRZE)

Algert Global LLC lowered its holdings in Braze, Inc. (NASDAQ:BRZE) by 28.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 43,966 shares of the company’s stock after selling 17,210 shares during the quarter. Algert Global LLC’s holdings in Braze were worth $1,422,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BRZE. Quarry LP bought a new stake in shares of Braze in the 2nd quarter valued at about $50,000. Comerica Bank raised its stake 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 acquiring an additional 276 shares in the last quarter. KBC Group NV raised its stake in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares in the last quarter. Amalgamated Bank raised its stake in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares in the last quarter. Finally, Canton Hathaway LLC raised its stake in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $38.82 on Friday. The company’s fifty day moving average price is $33.22 and its 200 day moving average price is $37.38. 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 $3.99 billion, a PE ratio of -32.90 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.

Analysts Set New Price Targets

Several research firms recently commented on BRZE. Barclays reduced their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. TD Cowen dropped their target price on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Macquarie started coverage on shares of Braze in a research report on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price on the stock. DA Davidson dropped their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, 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. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.95.

Insider Buying and Selling

In other Braze news, Director Fernando Machado sold 1,377 shares of the company’s 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 completion of the transaction, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 13.35 % 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, insider Myles Kleeger sold 6,342 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $36.03, for a total transaction of $228,502.26. Following the transaction, the insider now owns 184,396 shares of the company’s stock, valued at $6,643,787.88. This represents a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,479 shares of company stock valued at $4,414,911. Corporate insiders own 24.03% of the company’s stock.

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.