Deutsche Bank AG Purchases 52,047 Shares of Braze, Inc. (NASDAQ:BRZE)

Key Points

• Deutsche Bank AG increased its holdings in Braze, Inc. by 3.9% in the first quarter, acquiring an additional 52,047 shares, bringing its total ownership to approximately 1.34% valued at $50.6 million.
• Insider transactions have occurred, with significant sales including Astha Malik selling 13,460 shares valuing approximately $482,944, indicating a 4.95% decrease in her ownership.
• Multiple analysts have downgraded their price targets for Braze, with JPMorgan reducing its estimate from $47.00 to $45.00, while maintaining an "overweight" rating.

Deutsche Bank AG raised its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,403,067 shares of the company's stock after buying an additional 52,047 shares during the period. Deutsche Bank AG owned about 1.34% of Braze worth $50,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in BRZE. Vanguard Group Inc. lifted its position in shares of Braze by 5.3% during the first quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company's stock valued at $321,542,000 after purchasing an additional 447,746 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Braze by 2.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company's stock valued at $112,798,000 after acquiring an additional 63,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Braze by 121.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company's stock valued at $92,028,000 after acquiring an additional 1,203,149 shares in the last quarter. Invesco Ltd. grew its stake in Braze by 107.0% during the fourth quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock valued at $82,246,000 after acquiring an additional 1,015,007 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Braze in the 1st quarter worth approximately $54,644,000. 90.47% of the stock is owned by institutional investors.

Braze Trading Up 3.9%

Braze stock traded up $0.96 during midday trading on Friday, hitting $25.50. The stock had a trading volume of 1,778,031 shares, compared to its average volume of 1,251,235. The firm's fifty day moving average is $27.45 and its two-hundred day moving average is $32.75. The company has a market capitalization of $2.69 billion, a PE ratio of -25.25 and a beta of 1.10. Braze, Inc. has a 52-week low of $23.91 and a 52-week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings data 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. Braze had a negative net margin of 16.76% and a negative return on equity of 18.89%. The business had revenue of $162.06 million during the quarter, compared to analyst estimates of $158.60 million. During the same period last year, the firm posted ($0.05) EPS. The company's revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts predict that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BRZE. Cantor Fitzgerald assumed coverage on shares of Braze in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $45.00 price objective for the company. Piper Sandler dropped their price target on Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Loop Capital decreased their target price on shares of Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price target on shares of Braze in a research report on Friday, June 6th. Finally, Raymond James Financial dropped their price target on shares of Braze from $48.00 to $43.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.50.

Insider Buying and Selling at Braze

In other Braze news, insider Astha Malik sold 9,001 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $30.01, for a total transaction of $270,120.01. Following the completion of the sale, the insider directly owned 249,979 shares of the company's stock, valued at $7,501,869.79. This trade represents a 3.48% decrease in their position. 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 the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $27.08, for a total value of $129,604.88. Following the transaction, the general counsel owned 239,655 shares of the company's stock, valued at $6,489,857.40. This represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,270 shares of company stock worth $2,749,255. Insiders own 18.20% of the company's stock.

About Braze

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.