New York State Common Retirement Fund Purchases 47,658 Shares of Braze, Inc. (NASDAQ:BRZE)

New York State Common Retirement Fund boosted its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 23.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,668 shares of the company's stock after purchasing an additional 47,658 shares during the period. New York State Common Retirement Fund owned about 0.24% of Braze worth $9,116,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BRZE. Tower Research Capital LLC TRC increased its position in 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 purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after buying an additional 517 shares during the last quarter. Aster Capital Management DIFC Ltd increased its holdings in shares of Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after buying an additional 827 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Braze during the first quarter worth $54,000. Finally, State of Wyoming bought a new position in shares of Braze in the 4th quarter valued at $197,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Stock Performance

NASDAQ BRZE opened at $28.88 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of -28.59 and a beta of 1.10. Braze, Inc. has a 52-week low of $25.22 and a 52-week high of $48.33. The company has a 50-day simple moving average of $30.89 and a 200 day simple moving average of $35.07.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $158.60 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The company's revenue was up 19.6% compared to the same quarter last year. As a group, analysts forecast that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Ratings Changes

BRZE has been the subject of several analyst reports. Wells Fargo & Company dropped their price target 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. JMP Securities reaffirmed a "market outperform" rating and issued a $68.00 price objective on shares of Braze in a research note on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Braze in a research report on Friday, June 6th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Stephens set a $41.00 price target on shares of Braze and gave the stock an "overweight" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.79.

Insiders Place Their Bets

In other Braze news, insider Astha Malik sold 13,460 shares of Braze stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $482,944.80. Following the completion of the sale, the insider owned 258,395 shares of the company's stock, valued at $9,271,212.60. The trade was a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Susan Wiseman sold 4,786 shares of the company's 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 owned 239,655 shares of the company's stock, valued at $6,489,857.40. The trade was a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,269 shares of company stock worth $2,479,135. Company insiders own 18.20% of the company's stock.

Braze Company 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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