Ensign Peak Advisors Inc Cuts Position in Braze, Inc. (NASDAQ:BRZE)

Ensign Peak Advisors Inc decreased its position in Braze, Inc. (NASDAQ:BRZE – Get Rating) by 27.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,738 shares of the company’s stock after selling 7,496 shares during the period. Ensign Peak Advisors Inc’s holdings in Braze were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of BRZE. Bank of New York Mellon Corp purchased a new position in Braze in the first quarter valued at approximately $370,000. Bank of Montreal Can lifted its stake in Braze by 81.7% in the first quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock valued at $4,645,000 after purchasing an additional 46,591 shares during the last quarter. BlackRock Inc. lifted its stake in Braze by 2,301.3% in the first quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock valued at $5,111,000 after purchasing an additional 118,101 shares during the last quarter. Blair William & Co. IL lifted its stake in Braze by 8.7% in the first quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock valued at $424,000 after purchasing an additional 820 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Braze by 21.8% in the first quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock valued at $28,860,000 after purchasing an additional 124,741 shares during the last quarter. Hedge funds and other institutional investors own 44.13% of the company’s stock.

Braze Stock Performance

Braze stock opened at $30.92 on Tuesday. The stock has a market cap of $2.96 billion, a P/E ratio of -18.16 and a beta of 0.66. Braze, Inc. has a fifty-two week low of $22.53 and a fifty-two week high of $50.97. The firm’s fifty day moving average price is $30.93 and its 200-day moving average price is $30.86.

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

Insider Activity at Braze

In related news, CAO Pankaj Malik sold 2,247 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $32.52, for a total value of $73,072.44. Following the transaction, the chief accounting officer now owns 74,893 shares of the company’s stock, valued at $2,435,520.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Pankaj Malik sold 2,247 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $32.52, for a total value of $73,072.44. Following the transaction, the chief accounting officer now owns 74,893 shares of the company’s stock, valued at $2,435,520.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Isabelle Winkles sold 1,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were 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 directly owns 28,963 shares in the company, valued at approximately $891,191.51. The disclosure for this sale can be found here. 32.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. BTIG Research assumed coverage on Braze in a research note on Wednesday, January 11th. They issued a “buy” rating and a $34.00 price objective on the stock. Piper Sandler lowered their target price on shares of Braze from $38.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, December 14th. Raymond James lowered 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. Canaccord Genuity Group lowered their target price on shares of Braze from $47.00 to $33.00 in a report on Wednesday, December 14th. Finally, JMP Securities lowered 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. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.56.

Braze Profile

(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.