Russell Investments Group Ltd. Boosts Stock Position in Braze, Inc. (NASDAQ:BRZE)

Russell Investments Group Ltd. raised its stake in Braze, Inc. (NASDAQ:BRZE – Get Rating) by 99.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,152 shares of the company’s stock after purchasing an additional 17,993 shares during the period. Russell Investments Group Ltd.’s holdings in Braze were worth $986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRZE. Bank of New York Mellon Corp acquired a new stake in Braze in the first quarter worth about $370,000. Bank of Montreal Can boosted its holdings in Braze by 81.7% in the first quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock worth $4,645,000 after acquiring an additional 46,591 shares in the last quarter. BlackRock Inc. boosted its holdings in Braze by 2,301.3% in the first quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock worth $5,111,000 after acquiring an additional 118,101 shares in the last quarter. Blair William & Co. IL boosted its holdings in Braze by 8.7% in the first quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock worth $424,000 after acquiring an additional 820 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Braze by 21.8% in the first quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock worth $28,860,000 after acquiring an additional 124,741 shares in the last quarter. Hedge funds and other institutional investors own 44.13% of the company’s stock.

Analysts Set New Price Targets

BRZE has been the subject of several recent analyst reports. UBS Group downgraded Braze from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $40.00 to $35.00 in a report on Friday, March 17th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a report on Friday, March 31st. Wells Fargo & Company assumed coverage on Braze in a report on Wednesday, May 10th. They set an “overweight” rating and a $34.00 target price for the company. Oppenheimer lifted their target price on Braze from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, March 31st. Finally, Piper Sandler lifted their target price on Braze from $33.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, March 31st. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.18.

Insider Activity

In other news, major shareholder Battery Partners Xi, Llc sold 43,016 shares of the business’s stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $33.26, for a total value of $1,430,712.16. Following the completion of the sale, the insider now directly owns 28,034 shares in the company, valued at $932,410.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Braze news, CFO Isabelle Winkles sold 5,166 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $29.65, for a total value of $153,171.90. Following the transaction, the chief financial officer now owns 205,876 shares in the company, valued at approximately $6,104,223.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Battery Partners Xi, Llc sold 43,016 shares of the company’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $33.26, for a total transaction of $1,430,712.16. Following the sale, the insider now directly owns 28,034 shares of the company’s stock, valued at approximately $932,410.84. The disclosure for this sale can be found here. Insiders sold 93,534 shares of company stock worth $3,010,450 over the last three months. 26.48% of the stock is currently owned by corporate insiders.

Braze Trading Down 2.6 %

Shares of NASDAQ:BRZE opened at $30.74 on Friday. Braze, Inc. has a 12-month low of $22.53 and a 12-month high of $50.97. The company has a market capitalization of $2.96 billion, a PE ratio of -20.91 and a beta of 0.72. The business has a 50 day moving average of $31.45 and a two-hundred day moving average of $29.76.

Braze (NASDAQ:BRZE – Get Rating) last posted its quarterly earnings data on Thursday, March 30th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.03. The business had revenue of $98.68 million during the quarter, compared to analysts’ expectations of $95.65 million. Braze had a negative return on equity of 28.69% and a negative net margin of 39.10%. Equities research analysts predict that Braze, Inc. will post -1.38 earnings per share for the current fiscal year.

Braze Company Profile

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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.