Mirae Asset Global Investments Co. Ltd. Purchases 588 Shares of Braze, Inc. (NASDAQ:BRZE)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Braze, Inc. (NASDAQ:BRZE) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,831 shares of the company’s stock after acquiring an additional 588 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Braze were worth $1,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Fred Alger Management LLC bought a new stake in Braze during the 3rd quarter valued at $29,000. BluePath Capital Management LLC bought a new stake in shares of Braze during the third quarter worth about $31,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Braze during the third quarter worth about $61,000. Wildcat Capital Management LLC bought a new position in Braze in the 3rd quarter valued at about $107,000. Finally, Olympiad Research LP acquired a new position in Braze during the 3rd quarter valued at about $244,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Trading Up 1.9 %

Shares of NASDAQ BRZE opened at $39.68 on Tuesday. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -29.83 and a beta of 1.13. The stock has a fifty day simple moving average of $50.00 and a two-hundred day simple moving average of $50.74. Braze, Inc. has a 1-year low of $25.76 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.02. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. The company had revenue of $130.96 million during the quarter, compared to the consensus estimate of $124.55 million. Analysts forecast that Braze, Inc. will post -1.18 EPS for the current year.

Insider Activity

In related news, CEO William Magnuson sold 11,874 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.51, for a total value of $682,873.74. Following the completion of the transaction, the chief executive officer now directly owns 636,514 shares of the company’s stock, valued at approximately $36,605,920.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $42.46, for a total transaction of $100,248.06. Following the sale, the director now directly owns 6,101 shares in the company, valued at $259,048.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Magnuson sold 11,874 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.51, for a total transaction of $682,873.74. Following the completion of the transaction, the chief executive officer now owns 636,514 shares of the company’s stock, valued at $36,605,920.14. 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 over the last quarter. Company insiders own 26.48% of the company’s stock.

Analyst Ratings Changes

BRZE has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating and issued a $75.00 price objective on shares of Braze in a research note on Thursday, March 28th. William Blair reissued an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Raymond James cut their price objective on shares of Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. Canaccord Genuity Group lowered their target price on shares of Braze from $65.00 to $50.00 and set a “buy” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Braze presently has an average rating of “Moderate Buy” and a consensus target price of $63.41.

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.