Connor Clark & Lunn Investment Management Ltd. Has $811,000 Position in Braze, Inc. (NASDAQ:BRZE)

Connor Clark & Lunn Investment Management Ltd. grew its position in Braze, Inc. (NASDAQ:BRZE) by 14.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,083 shares of the company’s stock after purchasing an additional 3,180 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Braze were worth $811,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank lifted its holdings in Braze by 29.4% during the first 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. Quarry LP bought a new position in shares of Braze during the 2nd quarter valued at about $50,000. Advisors Asset Management Inc. lifted 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 valued at $85,000 after purchasing an additional 290 shares in the last quarter. Canton Hathaway LLC grew its position in shares of Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after purchasing an additional 1,187 shares during the period. Finally, KBC Group NV increased its stake in 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 purchasing an additional 615 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Braze Trading Down 0.7 %

BRZE opened at $38.82 on Friday. The stock’s fifty day simple moving average is $33.22 and its 200 day simple moving average is $37.38. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The stock has a market cap of $3.99 billion, a PE ratio of -32.90 and a beta of 1.03.

Braze (NASDAQ:BRZE) last posted its 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. The company had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.30) EPS. Equities analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 3,432 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $118,232.40. Following the transaction, the chief accounting officer now directly owns 67,095 shares of the company’s stock, valued at approximately $2,311,422.75. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Magnuson sold 17,933 shares of Braze stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $617,791.85. Following the completion of the sale, the chief executive officer now owns 582,816 shares of the company’s stock, valued at $20,078,011.20. This trade represents a 2.99 % 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. Insiders own 24.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group lowered their target price on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Macquarie began coverage on Braze in a report on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group cut their target price on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.95.

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.