BNP Paribas Financial Markets Purchases New Position in Braze, Inc. (NASDAQ:BRZE)

BNP Paribas Financial Markets bought a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,172 shares of the company's stock, valued at approximately $803,000.

Other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of Braze by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock worth $559,000 after purchasing an additional 316 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after acquiring an additional 827 shares in the last quarter. KBC Group NV increased its stake in Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock valued at $123,000 after acquiring an additional 832 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after purchasing an additional 928 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Stock Up 3.3%

BRZE stock traded up $1.16 during trading on Tuesday, hitting $35.89. The company had a trading volume of 763,054 shares, compared to its average volume of 1,257,662. The firm has a 50-day moving average price of $33.05 and a 200-day moving average price of $37.99. Braze, Inc. has a 12 month low of $27.45 and a 12 month high of $48.33. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of -31.48 and a beta of 1.15.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $160.40 million for the quarter, compared to analysts' expectations of $155.72 million. During the same quarter last year, the business earned ($0.04) earnings per share. The firm's quarterly revenue was up 22.4% compared to the same quarter last year. Equities analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

Insider Activity at Braze

In other news, CEO William Magnuson sold 25,089 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $900,193.32. Following the transaction, the chief executive officer now directly owns 745,769 shares in the company, valued at $26,758,191.72. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Pankaj Malik sold 3,405 shares of Braze stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $122,171.40. Following the sale, the chief accounting officer now directly owns 69,274 shares of the company's stock, valued at approximately $2,485,551.12. This trade represents a 4.68% decrease in their ownership of the stock. 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 ninety days. Company insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of recent research reports. Barclays decreased their price objective on Braze from $70.00 to $47.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. DA Davidson decreased their price target on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Raymond James upped their price target on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of Braze in a report on Friday, March 28th. Finally, Stephens began coverage on shares of Braze in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price on the stock. One research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $50.10.

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.