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. bought a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,441 shares of the company's stock, valued at approximately $593,000.

Other large investors have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP bought a new position in Braze during the 1st quarter valued at $54,644,000. Wellington Management Group LLP acquired a new stake in shares of Braze during the 4th quarter valued at $50,000,000. Nuveen LLC purchased a new stake in shares of Braze in the first quarter valued at $35,393,000. Vanguard Group Inc. boosted its position in shares of Braze by 5.3% in the first quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company's stock worth $321,542,000 after buying an additional 447,746 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Braze by 78.6% in the fourth quarter. Ameriprise Financial Inc. now owns 599,192 shares of the company's stock worth $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.

Analyst Ratings Changes

BRZE has been the subject of several recent analyst reports. Macquarie decreased their target price on Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Mizuho increased their price objective on Braze from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Raymond James Financial cut their price objective on Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, June 6th. DA Davidson reiterated a "buy" rating and set a $40.00 price objective on shares of Braze in a report on Friday, September 5th. Finally, Cantor Fitzgerald increased their price objective on Braze from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Twenty research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.10.

Insider Activity at Braze

In other news, CEO William Magnuson sold 24,325 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total value of $630,990.50. Following the sale, the chief executive officer directly owned 721,444 shares of the company's stock, valued at approximately $18,714,257.36. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jonathan Hyman sold 8,918 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $231,332.92. Following the completion of the sale, the chief technology officer directly owned 205,106 shares in the company, valued at approximately $5,320,449.64. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,624 shares of company stock valued at $2,021,306. Insiders own 18.20% of the company's stock.

Braze Trading Up 2.7%

NASDAQ BRZE traded up $0.80 during trading on Thursday, hitting $30.88. 1,769,499 shares of the company traded hands, compared to its average volume of 2,114,203. Braze, Inc. has a 12 month low of $23.91 and a 12 month high of $48.33. The business has a fifty day simple moving average of $27.55 and a 200 day simple moving average of $30.87. The company has a market capitalization of $3.26 billion, a P/E ratio of -29.69 and a beta of 1.10.

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.