Bank of America Corp DE Sells 86,878 Shares of Braze, Inc. $BRZE

Key Points

• Bank of America reduced its Braze stake by 6.4%, selling 86,878 shares and retaining 1.27 million shares valued at approximately $30.0 million.
• Institutional investors own 90.47% of Braze, while analysts maintain a generally positive outlook with a consensus “Moderate Buy” rating and an average price target of $35.06.
• Braze reported quarterly revenue of $211.0 million, up 30.2% year over year and above estimates, while posting adjusted EPS in line with expectations at $0.10.

Bank of America Corp DE cut its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,272,176 shares of the company's stock after selling 86,878 shares during the quarter. Bank of America Corp DE owned approximately 1.12% of Braze worth $30,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Braze by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company's stock valued at $1,415,000 after buying an additional 1,700 shares in the last quarter. Intech Investment Management LLC grew its stake in Braze by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 40,281 shares of the company's stock valued at $1,453,000 after buying an additional 6,379 shares in the last quarter. Prudential Financial Inc. bought a new stake in Braze during the 2nd quarter valued at $272,000. Russell Investments Group Ltd. raised its holdings in Braze by 1,353.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,619 shares of the company's stock valued at $270,000 after acquiring an additional 8,957 shares during the period. Finally, Amundi lifted its position in shares of Braze by 8.9% during the second quarter. Amundi now owns 32,581 shares of the company's stock worth $918,000 after acquiring an additional 2,657 shares in the last quarter. Institutional investors own 90.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Cowen reiterated a "buy" rating on shares of Braze in a research report on Monday, June 15th. BTIG Research increased their price objective on Braze from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Friday. Stifel Nicolaus set a $30.00 target price on Braze in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Braze in a report on Tuesday, July 7th. Finally, Piper Sandler reiterated an "overweight" rating and set a $27.00 price target on shares of Braze in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $35.06.

Braze Trading Down 3.1%

BRZE stock opened at $28.93 on Friday. The company's 50 day moving average is $23.89 and its 200 day moving average is $22.06. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -25.83 and a beta of 0.83. Braze, Inc. has a 1-year low of $15.26 and a 1-year high of $37.33.

Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Braze had a negative net margin of 15.51% and a negative return on equity of 17.52%. The business had revenue of $211.00 million during the quarter, compared to analyst estimates of $205.19 million. During the same period in the previous year, the business posted $0.07 earnings per share. Braze's revenue for the quarter was up 30.2% on a year-over-year basis. Braze has set its Q2 2027 guidance at 0.150-0.160 EPS. As a group, sell-side analysts forecast that Braze, Inc. will post -0.78 EPS for the current fiscal year.

Insider Transactions at Braze

In related news, insider Astha Malik sold 33,656 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.65, for a total transaction of $930,588.40. Following the transaction, the insider directly owned 278,138 shares of the company's stock, valued at approximately $7,690,515.70. This trade represents a 10.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jonathan Hyman sold 35,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $30.03, for a total value of $1,051,050.00. Following the completion of the sale, the chief technology officer owned 1,220,416 shares of the company's stock, valued at $36,649,092.48. The trade was a 2.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 96,699 shares of company stock valued at $2,742,076 over the last quarter. Company insiders own 12.50% of the company's stock.

Braze Company Profile

Braze, Inc is a publicly traded software company NASDAQ: BRZE that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze's platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.

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