American Century Companies Inc. Takes $593,000 Position in Braze, Inc. $BRZE

Key Points

• American Century Companies Inc. initiated a new investment in Braze, Inc. by acquiring 16,441 shares valued at approximately $593,000 during the 1st quarter, reflecting active interest from institutional investors in the company.
• In its latest earnings report, Braze announced $0.07 earnings per share, surpassing expectations, with a year-over-year revenue growth of 19.6%.
• Wall Street analysts maintain a predominantly "Buy" rating for Braze, with a consensus price target averaging around $44.85, indicating optimism about the company's growth prospects.

American Century Companies Inc. purchased a new position in Braze, Inc. (NASDAQ:BRZE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,441 shares of the company's stock, valued at approximately $593,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after purchasing an additional 405 shares during the period. GAMMA Investing LLC raised its position in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after acquiring an additional 517 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Braze in the first quarter worth about $36,000. Versant Capital Management Inc purchased a new stake in Braze in the first quarter worth about $54,000. Finally, SouthState Corp bought a new position in shares of Braze in the first quarter worth about $83,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Braze

In other news, CAO Pankaj Malik sold 2,344 shares of Braze stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total transaction of $60,803.36. Following the completion of the sale, the chief accounting officer directly owned 66,930 shares in the company, valued at approximately $1,736,164.20. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Susan Wiseman sold 4,943 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $25.14, for a total transaction of $124,267.02. Following the transaction, the general counsel directly owned 229,724 shares of the company's stock, valued at approximately $5,775,261.36. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,624 shares of company stock valued at $2,021,306 over the last 90 days. Insiders own 18.20% of the company's stock.

Braze Stock Performance

Shares of BRZE stock traded down $0.99 during mid-day trading on Tuesday, hitting $31.31. 3,022,401 shares of the stock were exchanged, compared to its average volume of 1,462,808. The stock's fifty day simple moving average is $27.41 and its two-hundred day simple moving average is $30.93. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -30.11 and a beta of 1.10. Braze, Inc. has a 12-month low of $23.91 and a 12-month high of $48.33.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BRZE shares. Oppenheimer lowered their price objective on Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. JMP Securities restated a "market outperform" rating and set a $68.00 target price on shares of Braze in a research note on Friday. DA Davidson reaffirmed a "buy" rating and set a $40.00 price target on shares of Braze in a research report on Friday. Macquarie decreased their price objective on Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Braze in a research note on Friday. Twenty analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.10.

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.