Connor Clark & Lunn Investment Management Ltd. Buys 32,149 Shares of Braze, Inc. $BRZE

Connor Clark & Lunn Investment Management Ltd. grew its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 44.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,684 shares of the company's stock after purchasing an additional 32,149 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Braze worth $3,741,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in shares of Braze by 1.4% in the 1st quarter. US Bancorp DE now owns 21,314 shares of the company's stock valued at $769,000 after purchasing an additional 302 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Braze by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock valued at $559,000 after purchasing an additional 316 shares during the last quarter. Tower Research Capital LLC TRC lifted 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 worth $27,000 after buying an additional 405 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Braze by 15.3% in the 1st quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock worth $122,000 after purchasing an additional 449 shares during the period. Finally, GAMMA Investing LLC grew its stake in Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after buying an additional 517 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Braze in a research note on Friday, June 6th. Stephens set a $41.00 price target on shares of Braze and gave the company an "overweight" rating in a report on Friday, June 6th. JMP Securities reiterated a "market outperform" rating and issued a $68.00 price target on shares of Braze in a research report on Friday, June 6th. Finally, Wells Fargo & Company dropped their price objective 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. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Braze presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.90.

Insider Activity at Braze

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

Braze Price Performance

NASDAQ BRZE traded up $0.65 on Monday, reaching $26.15. The company had a trading volume of 327,069 shares, compared to its average volume of 1,366,213. The firm has a 50-day moving average of $27.45 and a 200-day moving average of $32.57. Braze, Inc. has a 1 year low of $23.91 and a 1 year high of $48.33. The firm has a market capitalization of $2.76 billion, a PE ratio of -25.88 and a beta of 1.10.

Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The company had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. Braze's quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) EPS. As a group, sell-side analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

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.