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

New York State Common Retirement Fund lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 23.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,668 shares of the company's stock after purchasing an additional 47,658 shares during the quarter. New York State Common Retirement Fund owned 0.24% of Braze worth $9,116,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in shares of Braze in the fourth quarter worth $498,000. Raymond James Financial Inc. bought a new position in Braze in the fourth quarter valued at approximately $1,197,000. HighTower Advisors LLC grew its stake in Braze by 38.7% in the fourth quarter. HighTower Advisors LLC now owns 11,007 shares of the company's stock valued at $461,000 after purchasing an additional 3,071 shares in the last quarter. Swiss National Bank grew its stake in Braze by 7.1% in the fourth quarter. Swiss National Bank now owns 121,600 shares of the company's stock valued at $5,093,000 after purchasing an additional 8,100 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in Braze in the fourth quarter valued at approximately $258,000. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BRZE has been the subject of several research analyst reports. Canaccord Genuity Group lifted their target price on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Citigroup upped their price objective on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, March 28th. UBS Group decreased their price objective on shares of Braze from $51.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, June 6th. DA Davidson decreased their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Macquarie decreased their price objective on shares of Braze from $40.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $45.79.

Braze Stock Performance

Shares of BRZE stock traded up $0.13 during trading hours on Wednesday, hitting $28.44. 1,382,475 shares of the company were exchanged, compared to its average volume of 1,336,983. The firm has a market cap of $3.00 billion, a P/E ratio of -28.16 and a beta of 1.10. Braze, Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $48.33. The company has a 50 day simple moving average of $30.57 and a two-hundred day simple moving average of $34.85.

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

Insider Transactions at Braze

In other Braze news, CTO Jonathan Hyman sold 9,197 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $329,988.36. Following the completion of the sale, the chief technology officer owned 214,024 shares of the company's stock, valued at approximately $7,679,181.12. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 4,786 shares of the firm's 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 completion of the sale, the general counsel directly owned 239,655 shares of the company's stock, valued at $6,489,857.40. This trade represents a 1.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,269 shares of company stock valued at $2,479,135. Company insiders own 18.20% of the company's stock.

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.