Braze, Inc. $BRZE Shares Purchased by Swiss National Bank

Key Points

• Swiss National Bank increased its holdings in Braze, Inc. by 18.5% during the first quarter, acquiring an additional 22,500 shares to reach a total of 144,100 shares valued at approximately $5.2 million.
• Analysts have adjusted their target prices for Braze, with Barclays and Wells Fargo lowering their targets, while Needham & Company reiterated a "buy" rating with a target price of $50.00.
• Braze reported $0.07 earnings per share for the last quarter, exceeding expectations, with revenue of $162.06 million, a 19.6% increase year-over-year.

Swiss National Bank raised its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 18.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,100 shares of the company's stock after buying an additional 22,500 shares during the period. Swiss National Bank owned about 0.14% of Braze worth $5,199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BRZE. Deutsche Bank AG raised its holdings in Braze by 3.9% in the first quarter. Deutsche Bank AG now owns 1,403,067 shares of the company's stock valued at $50,623,000 after acquiring an additional 52,047 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Braze by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 550,355 shares of the company's stock valued at $19,857,000 after acquiring an additional 12,409 shares in the last quarter. Vanguard Group Inc. raised its holdings in Braze by 5.3% in the first quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company's stock valued at $321,542,000 after acquiring an additional 447,746 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Braze in the first quarter valued at $54,644,000. Finally, Blair William & Co. IL increased its stake in Braze by 9.0% during the first quarter. Blair William & Co. IL now owns 10,801 shares of the company's stock valued at $390,000 after purchasing an additional 891 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Trading Up 4.1%

BRZE opened at $26.55 on Tuesday. The stock has a 50-day moving average price of $27.37 and a 200-day moving average price of $32.43. Braze, Inc. has a 12-month low of $23.91 and a 12-month high of $48.33. The stock has a market capitalization of $2.80 billion, a P/E ratio of -26.29 and a beta of 1.10.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The business had revenue of $162.06 million during the quarter, compared to analysts' expectations of $158.60 million. During the same quarter last year, the business posted ($0.05) EPS. The business's revenue was up 19.6% on a year-over-year basis. On average, equities research analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays lowered their target price on shares of Braze from $43.00 to $35.00 and set an "overweight" rating for the company in a research note on Monday. Wells Fargo & Company lowered their target price on shares of Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. UBS Group lowered their target price on shares of Braze from $51.00 to $48.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Braze in a research note on Friday, June 6th. Finally, Macquarie lowered their price target on shares of Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.90.

Insiders Place Their Bets

In other Braze news, General Counsel Susan Wiseman sold 4,786 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $27.08, for a total transaction of $129,604.88. Following the sale, the general counsel directly owned 239,655 shares of the company's stock, valued at $6,489,857.40. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Astha Malik sold 9,001 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $30.01, for a total value of $270,120.01. Following the sale, the insider directly owned 249,979 shares in the company, valued at approximately $7,501,869.79. This represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.20% of the company's stock.

Braze 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.

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