Iconiq Strategic Partners Vi, Buys 152,374 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZEGet Rating) major shareholder Iconiq Strategic Partners Vi, purchased 152,374 shares of Braze stock in a transaction that occurred on Friday, September 16th. The shares were purchased at an average cost of $35.00 per share, with a total value of $5,333,090.00. Following the transaction, the insider now directly owns 474,764 shares of the company’s stock, valued at $16,616,740. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Iconiq Strategic Partners Vi, also recently made the following trade(s):

  • On Monday, September 19th, Iconiq Strategic Partners Vi, purchased 15,053 shares of Braze stock. The shares were purchased at an average cost of $35.12 per share, with a total value of $528,661.36.

Braze Stock Performance

BRZE opened at $35.28 on Thursday. Braze, Inc. has a fifty-two week low of $27.09 and a fifty-two week high of $98.78. The firm’s fifty day moving average is $43.13 and its 200 day moving average is $39.60. The stock has a market cap of $3.32 billion and a price-to-earnings ratio of -20.28.

Braze (NASDAQ:BRZEGet Rating) last released its earnings results on Monday, September 12th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. Braze had a negative net margin of 41.54% and a negative return on equity of 35.25%. The company had revenue of $86.13 million for the quarter, compared to analysts’ expectations of $81.16 million. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, equities research analysts predict that Braze, Inc. will post -1.48 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Braze from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, June 15th. Loop Capital cut their target price on shares of Braze from $75.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, June 15th. Piper Sandler lifted their target price on shares of Braze from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 13th. UBS Group initiated coverage on shares of Braze in a research report on Tuesday, July 12th. They issued a “buy” rating and a $53.00 target price for the company. Finally, Needham & Company LLC started coverage on shares of Braze in a research report on Tuesday, September 13th. They issued a “buy” rating and a $70.00 target price for the company. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat, Braze has a consensus rating of “Buy” and a consensus target price of $54.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new position in shares of Braze during the 4th quarter valued at $22,150,000. Davidson Kempner Capital Management LP purchased a new position in shares of Braze during the fourth quarter valued at about $776,000. Interwest Venture Management Co. bought a new stake in shares of Braze in the first quarter worth about $140,758,000. LMR Partners LLP purchased a new stake in shares of Braze in the fourth quarter worth about $3,086,000. Finally, ICONIQ Capital LLC boosted its stake in Braze by 134.2% during the first quarter. ICONIQ Capital LLC now owns 7,206,133 shares of the company’s stock valued at $298,839,000 after buying an additional 4,128,680 shares during the last quarter. Hedge funds and other institutional investors own 39.38% of the company’s stock.

About Braze

(Get Rating)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.

Further Reading

Insider Buying and Selling by Quarter for Braze (NASDAQ:BRZE)

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