Cresset Asset Management LLC Purchases 9,058 Shares of Braze, Inc. (NASDAQ:BRZE)

Cresset Asset Management LLC raised its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,584 shares of the company's stock after acquiring an additional 9,058 shares during the quarter. Cresset Asset Management LLC owned 0.09% of Braze worth $4,045,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in Braze in the 4th quarter valued at about $270,000. Balyasny Asset Management L.P. purchased a new position in shares of Braze in the 4th quarter worth about $10,272,000. Bank of America Corp DE lifted its position in Braze by 57.6% during the fourth quarter. Bank of America Corp DE now owns 402,690 shares of the company's stock valued at $16,865,000 after buying an additional 147,127 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Braze in the 4th quarter valued at $803,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Braze by 78.6% during the 4th quarter. Ameriprise Financial Inc. now owns 599,192 shares of the company's stock valued at $25,094,000 after buying an additional 263,694 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BRZE has been the topic of several recent analyst reports. DA Davidson cut their price target on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Raymond James upped their target price on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Canaccord Genuity Group increased their target price on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Piper Sandler dropped their price target on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup upped their price target on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Braze currently has a consensus rating of "Buy" and an average price target of $51.25.

Insider Activity at Braze

In other Braze news, CAO Pankaj Malik sold 2,585 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $105,519.70. Following the transaction, the chief accounting officer now directly owns 52,199 shares of the company's stock, valued at $2,130,763.18. The trade was a 4.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Magnuson sold 18,050 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares in the company, valued at $23,053,748.12. This represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,937 shares of company stock valued at $2,235,381. Corporate insiders own 24.03% of the company's stock.

Braze Stock Performance

Shares of BRZE stock traded up $2.46 during mid-day trading on Monday, hitting $36.14. 1,090,283 shares of the stock traded hands, compared to its average volume of 1,243,824. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -31.70 and a beta of 1.15. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33. The company's 50-day simple moving average is $32.85 and its 200-day simple moving average is $37.75.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. Braze's quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) earnings per share. Analysts forecast that Braze, Inc. will post -0.98 earnings per share 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.