HighTower Advisors LLC Grows Holdings in Braze, Inc. (NASDAQ:BRZE)

HighTower Advisors LLC lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 38.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,007 shares of the company’s stock after buying an additional 3,071 shares during the period. HighTower Advisors LLC’s holdings in Braze were worth $461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Braze by 12.8% in the 3rd 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 purchased a new position in Braze during the third quarter worth about $673,000. Proficio Capital Partners LLC acquired a new stake in Braze in the fourth quarter valued at about $498,000. Holocene Advisors LP boosted its stake in shares of Braze by 52.7% in the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after buying an additional 29,123 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 14,000 shares of Braze stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.52, for a total value of $637,280.00. Following the completion of the transaction, the general counsel now directly owns 199,520 shares of the company’s stock, valued at approximately $9,082,150.40. The trade was a 6.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William Magnuson sold 18,050 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the transaction, the chief executive officer now owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock valued at $3,841,921 over the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Braze Trading Up 2.2 %

BRZE opened at $37.51 on Monday. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $48.33. The company has a fifty day simple moving average of $39.66 and a 200 day simple moving average of $38.03.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. The company had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. Braze’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. On average, analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the company a “buy” rating in a report on Friday. Stephens began coverage on Braze in a research note on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price objective on the stock. Wells Fargo & Company restated an “overweight” rating and set a $55.00 target price (up previously from $50.00) on shares of Braze in a research report on Friday. Piper Sandler increased their target price on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Raymond James boosted their price objective on shares of Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $53.00.

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.