Braze, Inc. (NASDAQ:BRZE) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE grew its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 57.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 402,690 shares of the company's stock after buying an additional 147,127 shares during the quarter. Bank of America Corp DE owned 0.39% of Braze worth $16,865,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after buying an additional 405 shares during the period. Aster Capital Management DIFC Ltd raised its position in shares of Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after acquiring an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after acquiring an additional 928 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Braze in the 4th quarter worth $47,000. Finally, Plato Investment Management Ltd bought a new position in shares of Braze in the 4th quarter worth $115,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRZE has been the subject of several recent research reports. DA Davidson reduced their price target on Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group boosted their price target on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Stephens initiated coverage on Braze in a research report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Braze in a research report on Friday, March 28th. Finally, 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. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $50.10.

Braze Stock Down 0.4%

Shares of BRZE traded down $0.13 during mid-day trading on Monday, reaching $34.73. The company had a trading volume of 741,269 shares, compared to its average volume of 1,259,648. Braze, Inc. has a 52-week low of $27.45 and a 52-week high of $48.33. The stock has a market capitalization of $3.63 billion, a P/E ratio of -30.46 and a beta of 1.15. The stock has a 50 day moving average of $33.05 and a two-hundred day moving average of $38.01.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company's revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts expect that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Transactions at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $41.46, for a total transaction of $62,190.00. Following the transaction, the director now owns 15,269 shares in the company, valued at approximately $633,052.74. This represents a 8.95% 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 9,197 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $329,988.36. Following the transaction, the chief technology officer now owns 214,024 shares in the company, valued at $7,679,181.12. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,150 shares of company stock worth $2,540,814 over the last quarter. 18.20% of the stock is currently owned by insiders.

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.