Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,434 Shares of Braze, Inc. (NASDAQ:BRZE)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Braze, Inc. (NASDAQ:BRZE) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,112 shares of the company’s stock after buying an additional 1,434 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Braze were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BRZE. Morgan Stanley lifted its position in Braze by 20.1% in the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after acquiring an additional 899,894 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Braze by 180.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock valued at $60,053,000 after purchasing an additional 826,100 shares in the last quarter. Invesco Ltd. boosted its position in shares of Braze by 167.5% during the third quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock worth $60,467,000 after buying an additional 810,295 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Braze during the third quarter worth about $12,794,000. Finally, Federated Hermes Inc. acquired a new stake in Braze in the 3rd quarter valued at approximately $12,373,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Price Performance

Shares of Braze stock opened at $40.44 on Thursday. The business has a fifty day simple moving average of $48.03 and a two-hundred day simple moving average of $50.51. Braze, Inc. has a 1 year low of $25.76 and a 1 year high of $61.53. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -30.41 and a beta of 1.13.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.02. The company had revenue of $130.96 million for the quarter, compared to analyst estimates of $124.55 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. As a group, equities analysts anticipate that Braze, Inc. will post -1.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BRZE shares. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a research report on Thursday, March 28th. DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of Braze in a research report on Monday, March 25th. Wells Fargo & Company cut their price target on shares of Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen decreased their price objective on Braze from $68.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, Raymond James lowered their target price on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.12.

Insiders Place Their Bets

In other news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $59.91, for a total value of $89,865.00. Following the transaction, the director now owns 11,056 shares of the company’s stock, valued at $662,364.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now owns 244,291 shares of the company’s stock, valued at $13,914,815.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $59.91, for a total transaction of $89,865.00. Following the completion of the transaction, the director now owns 11,056 shares in the company, valued at $662,364.96. The disclosure for this sale can be found here. Insiders sold 77,815 shares of company stock worth $4,164,679 over the last three months. Insiders own 26.48% of the company’s stock.

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.