Bank of New York Mellon Corp Makes New $11.81 Million Investment in Braze, Inc. $BRZE

Key Points

• Bank of New York Mellon acquired 544,687 Braze shares worth approximately $11.81 million, representing about 0.48% of the company. Institutional investors collectively own 90.47% of Braze.
• Braze shares opened at $32.78, with a market capitalization of roughly $3.69 billion. The stock has traded between $15.26 and $37.33 over the past year.
• Analysts maintain a generally positive view, with an average rating of “Moderate Buy” and a consensus price target of $35.76; however, insiders sold 203,568 shares worth about $6.1 million over the past 90 days.

Bank of New York Mellon Corp acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 544,687 shares of the company's stock, valued at approximately $11,814,000. Bank of New York Mellon Corp owned about 0.48% of Braze as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Handelsbanken Fonder AB grew its holdings in shares of Braze by 18.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 28,900 shares of the company's stock worth $627,000 after acquiring an additional 4,600 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Braze in the 2nd quarter valued at $36,000. Versant Capital Management Inc boosted its position in shares of Braze by 13.3% in the 2nd quarter. Versant Capital Management Inc now owns 4,692 shares of the company's stock valued at $102,000 after purchasing an additional 552 shares during the period. Optiver Holding B.V. increased its stake in Braze by 532.2% in the 1st quarter. Optiver Holding B.V. now owns 2,712 shares of the company's stock worth $64,000 after purchasing an additional 2,283 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its stake in Braze by 36.5% in the 1st quarter. Glenmede Trust Co. NA now owns 538,845 shares of the company's stock worth $12,722,000 after purchasing an additional 144,176 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company's stock.

Insider Activity at Braze

In other Braze news, CRO Edward M. Mcdonnell sold 29,732 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.38, for a total transaction of $932,990.16. Following the transaction, the executive directly owned 409,630 shares in the company, valued at $12,854,189.40. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jonathan Hyman sold 42,000 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $32.47, for a total value of $1,363,740.00. Following the completion of the sale, the chief technology officer directly owned 1,143,219 shares of the company's stock, valued at $37,120,320.93. This represents a 3.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 203,568 shares of company stock valued at $6,096,461. Insiders own 12.50% of the company's stock.

Braze Stock Down 3.7%

BRZE stock opened at $32.78 on Wednesday. The firm has a 50 day moving average of $26.41 and a two-hundred day moving average of $23.02. Braze, Inc. has a 12 month low of $15.26 and a 12 month high of $37.33. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of -29.27 and a beta of 0.88.

Analysts Set New Price Targets

Several equities research analysts recently commented on BRZE shares. Piper Sandler restated an "overweight" rating and issued a $27.00 price target on shares of Braze in a research report on Thursday, May 28th. Stifel Nicolaus set a $30.00 price objective on shares of Braze in a research note on Thursday, May 28th. TD Cowen increased their target price on shares of Braze from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Weiss Ratings reissued a "sell (e+)" rating on shares of Braze in a research note on Tuesday, July 7th. Finally, Mizuho lowered their price target on shares of Braze from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.76.

About Braze

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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