Algert Global LLC Reduces Stock Position in Braze, Inc. (NASDAQ:BRZE)

Algert Global LLC cut its holdings in Braze, Inc. (NASDAQ:BRZE) by 28.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,966 shares of the company’s stock after selling 17,210 shares during the period. Algert Global LLC’s holdings in Braze were worth $1,422,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in 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 period. Intech Investment Management LLC bought a new position in Braze in the third quarter worth approximately $673,000. King Luther Capital Management Corp raised its position in Braze by 17.4% in the third quarter. King Luther Capital Management Corp now owns 105,156 shares of the company’s stock worth $3,401,000 after acquiring an additional 15,583 shares during the period. Citizens Financial Group Inc. RI raised its position in Braze by 80.0% in the third quarter. Citizens Financial Group Inc. RI now owns 26,196 shares of the company’s stock worth $847,000 after acquiring an additional 11,646 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Braze by 14.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,083 shares of the company’s stock worth $811,000 after acquiring an additional 3,180 shares during the period. 90.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Myles Kleeger sold 6,342 shares of Braze stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total transaction of $228,502.26. Following the completion of the sale, the insider now owns 184,396 shares in the company, valued at $6,643,787.88. This trade represents a 3.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jonathan Hyman sold 6,930 shares of Braze stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $238,738.50. Following the sale, the chief technology officer now owns 163,020 shares of the company’s stock, valued at $5,616,039. The trade was a 4.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,479 shares of company stock valued at $4,414,911. Company insiders own 24.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Oppenheimer decreased their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. TD Cowen decreased their price objective 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. The Goldman Sachs Group decreased their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, UBS Group decreased their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $53.95.

Braze Stock Down 0.7 %

Shares of NASDAQ:BRZE opened at $38.82 on Friday. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53. The stock has a market capitalization of $3.99 billion, a P/E ratio of -32.90 and a beta of 1.03. The firm has a fifty day simple moving average of $33.22 and a two-hundred day simple moving average of $37.38.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.09 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 business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period last year, the company posted ($0.30) EPS. The business’s revenue was up 26.4% on a year-over-year basis. On average, analysts expect 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.