Charles Schwab Investment Management Inc. Acquires 20,798 Shares of Braze, Inc. (NASDAQ:BRZE)

Charles Schwab Investment Management Inc. boosted its holdings in Braze, Inc. (NASDAQ:BRZE) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 397,593 shares of the company’s stock after purchasing an additional 20,798 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Braze were worth $21,124,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank grew its position in shares of Braze by 1.5% during the 4th quarter. Swiss National Bank now owns 92,700 shares of the company’s stock worth $4,925,000 after buying an additional 1,400 shares during the period. Arnhold LLC boosted its stake in Braze by 45.0% during the fourth quarter. Arnhold LLC now owns 7,655 shares of the company’s stock worth $407,000 after acquiring an additional 2,377 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Braze by 35.3% in the fourth quarter. Russell Investments Group Ltd. now owns 92,334 shares of the company’s stock worth $4,908,000 after purchasing an additional 24,098 shares during the period. Bailard Inc. increased its stake in Braze by 409.7% in the fourth quarter. Bailard Inc. now owns 48,578 shares of the company’s stock valued at $2,581,000 after purchasing an additional 39,048 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Braze by 814.1% during the fourth quarter. New York State Common Retirement Fund now owns 178,514 shares of the company’s stock valued at $9,484,000 after purchasing an additional 158,986 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Trading Up 0.4 %

Shares of BRZE opened at $41.29 on Friday. The stock has a 50 day moving average of $43.36 and a 200 day moving average of $50.16. Braze, Inc. has a 12 month low of $30.48 and a 12 month high of $61.53. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of -31.04 and a beta of 1.13.

Braze (NASDAQ:BRZE) last announced its earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.02. The firm had revenue of $130.96 million during the quarter, compared to analyst estimates of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. As a group, equities research analysts predict that Braze, Inc. will post -1.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO William Magnuson sold 17,839 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the sale, the chief executive officer now owns 618,675 shares of the company’s stock, valued at $25,835,868. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,833 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $160,066.08. Following the completion of the transaction, the general counsel now directly owns 224,925 shares of the company’s stock, valued at approximately $9,392,868. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Magnuson sold 17,839 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the transaction, the chief executive officer now owns 618,675 shares of the company’s stock, valued at $25,835,868. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,114 shares of company stock valued at $3,344,997. 24.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on BRZE. Wells Fargo & Company reduced their target price on Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Canaccord Genuity Group cut their target price on Braze from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Piper Sandler restated an “overweight” rating and set a $66.00 price target on shares of Braze in a research note on Friday, April 5th. Finally, Oppenheimer restated an “outperform” rating and set a $75.00 price objective on shares of Braze in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.12.

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.