Harbor Capital Advisors Inc. Purchases 111,763 Shares of Braze, Inc. (NASDAQ:BRZE)

Harbor Capital Advisors Inc. lifted its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 1,032.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,591 shares of the company's stock after purchasing an additional 111,763 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.12% of Braze worth $4,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ShawSpring Partners LLC acquired a new stake in Braze during the 4th quarter worth approximately $62,837,000. Norges Bank acquired a new position in Braze in the fourth quarter valued at $62,639,000. Vanguard Group Inc. grew its position in Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after buying an additional 1,476,423 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Braze by 121.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company's stock worth $92,028,000 after buying an additional 1,203,149 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Braze during the 4th quarter worth approximately $50,000,000. Hedge funds and other institutional investors own 90.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BRZE. Stephens set a $41.00 target price on shares of Braze and gave the company an "overweight" rating in a report on Friday, June 6th. Loop Capital reduced their price objective on shares of Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, June 6th. JMP Securities reiterated a "market outperform" rating and set a $68.00 price target on shares of Braze in a report on Friday, June 6th. Stifel Nicolaus set a $50.00 price target on Braze and gave the company a "buy" rating in a report on Friday, March 28th. Finally, Citigroup increased their price target on Braze from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.60.

Braze Price Performance

Shares of NASDAQ:BRZE traded down $1.17 during midday trading on Friday, reaching $27.31. The company's stock had a trading volume of 1,727,119 shares, compared to its average volume of 1,284,330. The company has a market capitalization of $2.86 billion, a P/E ratio of -23.96 and a beta of 1.22. The business's fifty day simple moving average is $32.46 and its 200-day simple moving average is $37.63. Braze, Inc. has a fifty-two week low of $27.25 and a fifty-two week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The firm had revenue of $162.06 million for the quarter, compared to analysts' expectations of $158.60 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company's revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. On average, analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Braze

In related news, CAO Pankaj Malik sold 3,405 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $122,171.40. Following the sale, the chief accounting officer now owns 69,274 shares of the company's stock, valued at $2,485,551.12. This represents a 4.68% 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, Director Phillip M. Fernandez sold 1,500 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the transaction, the director now directly owns 15,269 shares in the company, valued at approximately $633,052.74. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,150 shares of company stock valued at $2,540,814. 18.20% of the stock is owned by insiders.

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.