Calamos Advisors LLC Has $2.70 Million Holdings in Braze, Inc. (NASDAQ:BRZE)

Calamos Advisors LLC boosted its stake in Braze, Inc. (NASDAQ:BRZE) by 108.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,853 shares of the company’s stock after purchasing an additional 26,454 shares during the period. Calamos Advisors LLC owned about 0.05% of Braze worth $2,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Federated Hermes Inc. increased its holdings in Braze by 90.7% in the fourth quarter. Federated Hermes Inc. now owns 503,994 shares of the company’s stock valued at $26,777,000 after purchasing an additional 239,742 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Braze by 14.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,112 shares of the company’s stock valued at $590,000 after purchasing an additional 1,434 shares during the period. Canton Hathaway LLC acquired a new stake in Braze in the fourth quarter valued at $42,000. Toth Financial Advisory Corp increased its holdings in Braze by 106.9% in the fourth quarter. Toth Financial Advisory Corp now owns 15,000 shares of the company’s stock valued at $797,000 after purchasing an additional 7,751 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Braze by 10.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 301,641 shares of the company’s stock valued at $16,026,000 after purchasing an additional 27,855 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total transaction of $89,865.00. Following the transaction, the director now owns 11,056 shares of the company’s stock, valued at approximately $662,364.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total transaction of $89,865.00. Following the completion of the sale, the director now owns 11,056 shares in the company, valued at approximately $662,364.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the sale, the insider now owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. Insiders have sold a total of 77,815 shares of company stock valued at $4,164,679 in the last 90 days. 26.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BRZE shares. William Blair restated an “outperform” rating on shares of Braze in a report on Thursday, March 28th. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a report on Thursday, March 21st. Raymond James decreased their price target on Braze from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. Canaccord Genuity Group decreased their price target on Braze from $70.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, Scotiabank decreased their price target on Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.29.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $38.94 on Friday. Braze, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $61.53. The firm’s 50-day simple moving average is $50.39 and its 200 day simple moving average is $50.75. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of -29.28 and a beta of 1.13.

Braze (NASDAQ:BRZE) last posted its earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. The firm had revenue of $130.96 million for the quarter, compared to analysts’ expectations of $124.55 million. On average, sell-side analysts predict that Braze, Inc. will post -1.18 EPS for the current year.

Braze Profile

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.