Braze, Inc. (NASDAQ:BRZE) Shares Purchased by KBC Group NV

KBC Group NV grew its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 41.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,097 shares of the company’s stock after acquiring an additional 615 shares during the quarter. KBC Group NV’s holdings in Braze were worth $68,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Braze during the 1st quarter worth $114,000. Vanguard Group Inc. raised its holdings in shares of Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after purchasing an additional 148,366 shares during the period. American International Group Inc. lifted its stake in shares of Braze by 1.2% in the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after purchasing an additional 310 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Braze by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after purchasing an additional 290 shares during the period. Finally, Quadrature Capital Ltd increased its position in Braze by 7.7% during the 1st quarter. Quadrature Capital Ltd now owns 36,267 shares of the company’s stock worth $1,607,000 after purchasing an additional 2,585 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Trading Up 1.9 %

Shares of NASDAQ:BRZE opened at $38.71 on Friday. The firm has a market cap of $3.98 billion, a PE ratio of -32.80 and a beta of 1.03. The company has a fifty day simple moving average of $32.99 and a 200 day simple moving average of $37.42. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the prior year, the business posted ($0.30) EPS. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, equities research analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 50,000 shares of Braze stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the transaction, the insider now directly owns 199,963 shares of the company’s stock, valued at approximately $9,128,310.95. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the sale, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 190,479 shares of company stock worth $7,148,911 over the last quarter. 24.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BRZE has been the subject of several research reports. UBS Group decreased their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. TD Cowen decreased their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Loop Capital reaffirmed a “buy” rating and issued a $75.00 target price on shares of Braze in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group dropped their target price on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

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.