Macquarie Group Ltd. Buys New Position in Braze, Inc. (NASDAQ:BRZE)

Macquarie Group Ltd. bought a new stake in Braze, Inc. (NASDAQ:BRZE – Get Rating) during the third quarter, Holdings Channel.com reports. The fund bought 58,424 shares of the company’s stock, valued at approximately $2,035,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BRZE. Driehaus Capital Management LLC bought a new position in Braze during the second quarter valued at approximately $22,693,000. Victory Capital Management Inc. bought a new position in Braze during the third quarter valued at approximately $20,654,000. Steadview Capital Management LLC bought a new position in Braze during the third quarter valued at approximately $15,426,000. Price T Rowe Associates Inc. MD grew its position in Braze by 54.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 847,360 shares of the company’s stock valued at $30,700,000 after acquiring an additional 298,790 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Braze by 215.8% during the second quarter. Goldman Sachs Group Inc. now owns 391,081 shares of the company’s stock valued at $14,169,000 after acquiring an additional 267,238 shares during the last quarter. 44.13% of the stock is owned by hedge funds and other institutional investors.

Braze Trading Down 6.4 %

Shares of Braze stock opened at $30.33 on Friday. The firm has a market capitalization of $2.90 billion, a P/E ratio of -18.16 and a beta of 0.66. The business has a fifty day simple moving average of $30.93 and a two-hundred day simple moving average of $31.07. Braze, Inc. has a 12 month low of $22.53 and a 12 month high of $50.97.

Braze (NASDAQ:BRZE – Get Rating) last announced its quarterly earnings data on Tuesday, December 13th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. The business had revenue of $93.13 million during the quarter, compared to analyst estimates of $90.45 million. Braze had a negative return on equity of 29.94% and a negative net margin of 45.37%. Analysts predict that Braze, Inc. will post -1.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group reduced their price target on shares of Braze to $40.00 in a research report on Wednesday, December 14th. Barclays cut their target price on shares of Braze from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, December 14th. JMP Securities cut their target price on shares of Braze from $52.00 to $46.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 14th. Raymond James cut their target price on shares of Braze from $50.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, December 14th. Finally, DA Davidson began coverage on shares of Braze in a report on Thursday, February 16th. They issued a “neutral” rating and a $34.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.56.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 2,247 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $32.52, for a total transaction of $73,072.44. Following the completion of the transaction, the chief accounting officer now owns 74,893 shares of the company’s stock, valued at $2,435,520.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Isabelle Winkles sold 1,000 shares of Braze stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $30.77, for a total value of $30,770.00. Following the completion of the transaction, the chief financial officer now owns 28,963 shares of the company’s stock, valued at approximately $891,191.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Pankaj Malik sold 2,247 shares of Braze stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $32.52, for a total value of $73,072.44. Following the completion of the transaction, the chief accounting officer now directly owns 74,893 shares of the company’s stock, valued at approximately $2,435,520.36. The disclosure for this sale can be found here. Insiders own 32.14% of the company’s stock.

About Braze

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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.