Braze, Inc. (NASDAQ:BRZE) Stock Holdings Lifted by Comerica Bank

Comerica Bank increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 29.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,216 shares of the company’s stock after buying an additional 276 shares during the period. Comerica Bank’s holdings in Braze were worth $54,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Neo Ivy Capital Management acquired a new position in Braze in the fourth quarter valued at approximately $40,000. Covestor Ltd boosted its position in Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the period. RiverPark Advisors LLC grew its stake in Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after buying an additional 1,411 shares during the last quarter. Advisors Asset Management Inc. increased its position in Braze by 17.8% in the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after buying an additional 290 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Braze in the first quarter valued at $114,000. Institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BRZE. Oppenheimer reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Braze in a report on Wednesday, June 12th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $48.00 to $56.00 in a research note on Wednesday, July 10th. Canaccord Genuity Group boosted their price objective on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Piper Sandler decreased their price objective on Braze from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Braze in a research report on Monday, June 17th. Seventeen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $61.13.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $42.48, for a total transaction of $509,760.00. Following the completion of the sale, the general counsel now directly owns 214,340 shares of the company’s stock, valued at approximately $9,105,163.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Braze news, General Counsel Susan Wiseman sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $42.48, for a total transaction of $509,760.00. Following the completion of the sale, the general counsel now directly owns 214,340 shares of the company’s stock, valued at $9,105,163.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the completion of the transaction, the chief financial officer now owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,394 shares of company stock valued at $2,159,519. Corporate insiders own 24.03% of the company’s stock.

Braze Trading Up 1.0 %

Shares of Braze stock opened at $42.16 on Monday. Braze, Inc. has a 52 week low of $33.93 and a 52 week high of $61.53. The stock has a market cap of $4.28 billion, a PE ratio of -32.94 and a beta of 1.07. The company’s 50-day moving average price is $38.89 and its two-hundred day moving average price is $44.26.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. The business had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. On average, equities analysts predict that Braze, Inc. will post -1.21 EPS for the current fiscal year.

Braze Company 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.