Dana Investment Advisors Inc. Buys Shares of 57,730 Braze, Inc. $BRZE

Key Points

• Dana Investment Advisors opened a new position in Braze, buying 57,730 shares valued at about $1.98 million, according to its latest SEC filing.
• Braze reported mixed quarterly results: revenue of $205.17 million beat estimates and rose 27.9% year over year, but earnings of $0.10 per share missed consensus and the company remains unprofitable.
• Wall Street remains generally constructive on the stock, with 22 Buy ratings and a consensus Moderate Buy view, though several firms recently trimmed their price targets.

Dana Investment Advisors Inc. bought a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 57,730 shares of the company's stock, valued at approximately $1,980,000. Dana Investment Advisors Inc. owned approximately 0.05% of Braze as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Braze by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company's stock valued at $337,793,000 after purchasing an additional 892,635 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of Braze by 10.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,687,928 shares of the company's stock worth $76,445,000 after acquiring an additional 261,351 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Braze by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company's stock worth $69,831,000 after acquiring an additional 139,133 shares in the last quarter. Battery Management CORP. raised its position in shares of Braze by 70.2% in the 3rd quarter. Battery Management CORP. now owns 2,425,000 shares of the company's stock worth $68,967,000 after acquiring an additional 1,000,000 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Braze by 28.8% in the 2nd quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company's stock worth $65,197,000 after acquiring an additional 518,103 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Braze Price Performance

Shares of BRZE stock opened at $20.87 on Monday. Braze, Inc. has a 1-year low of $15.26 and a 1-year high of $37.67. The stock's fifty day moving average price is $21.36 and its 200 day moving average price is $24.77. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -17.11 and a beta of 0.78.

Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results on Tuesday, March 24th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Braze had a negative return on equity of 18.75% and a negative net margin of 17.78%.The business had revenue of $205.17 million for the quarter, compared to analysts' expectations of $198.23 million. During the same quarter last year, the firm earned $0.12 earnings per share. The firm's quarterly revenue was up 27.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Braze, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BRZE. TD Cowen reduced their price target on Braze from $43.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 20th. BTIG Research reissued a "buy" rating and issued a $30.00 price target on shares of Braze in a research report on Friday, April 17th. JPMorgan Chase & Co. boosted their price target on Braze from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 25th. Mizuho reduced their price target on Braze from $50.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. Finally, Piper Sandler dropped their target price on Braze from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 25th. Twenty-two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Braze currently has a consensus rating of "Moderate Buy" and an average target price of $36.90.

Insider Activity

In related news, CTO Jonathan Hyman sold 7,391 shares of the business's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $125,129.63. Following the transaction, the chief technology officer directly owned 1,692,933 shares in the company, valued at $28,661,355.69. The trade was a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Pankaj Malik sold 2,893 shares of the business's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total value of $48,978.49. Following the transaction, the chief accounting officer owned 50,679 shares in the company, valued at approximately $857,995.47. This trade represents a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,676 shares of company stock worth $1,737,811 over the last quarter. Company insiders own 18.20% 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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