Nuveen LLC Takes Position in Braze, Inc. $BRZE

Key Points

• Nuveen LLC has purchased 980,967 shares of Braze, Inc. valued at approximately $35.4 million, representing a 0.94% ownership stake.
• Multiple hedge funds, including Vanguard Group Inc. and T. Rowe Price Investment Management, have also increased their stakes in Braze, with institutional investors collectively owning 90.47% of the company's stock.
• Equities research analysts have mixed ratings on Braze, with an average price target of $45.50, and twelve firms giving it a buy rating.

Nuveen LLC bought a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 980,967 shares of the company's stock, valued at approximately $35,393,000. Nuveen LLC owned approximately 0.94% of Braze as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRZE. US Bancorp DE lifted its stake in shares of Braze by 1.4% during the 1st quarter. US Bancorp DE now owns 21,314 shares of the company's stock worth $769,000 after purchasing an additional 302 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Braze by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock worth $559,000 after purchasing an additional 316 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of 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 during the period. IFP Advisors Inc lifted its stake in shares of Braze by 15.3% during the 1st quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock worth $122,000 after purchasing an additional 449 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after buying an additional 517 shares during the period. Hedge funds and other institutional investors own 90.47% of the company's stock.

Insider Buying and Selling at Braze

In other Braze news, General Counsel Susan Wiseman sold 4,786 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $27.08, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Astha Malik sold 9,001 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.01, for a total transaction of $270,120.01. Following the transaction, the insider directly owned 249,979 shares of the company's stock, valued at approximately $7,501,869.79. This represents a 3.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.20% of the company's stock.

Braze Price Performance

Shares of NASDAQ BRZE traded up $1.05 during midday trading on Monday, hitting $26.55. 1,214,770 shares of the company's stock were exchanged, compared to its average volume of 1,253,174. The stock's 50 day moving average price is $27.37 and its 200-day moving average price is $32.43. The firm has a market cap of $2.80 billion, a P/E ratio of -26.29 and a beta of 1.10. Braze, Inc. has a twelve month low of $23.91 and a twelve month high of $48.33.

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

Wall Street Analysts Forecast Growth

BRZE has been the subject of several recent research reports. Mizuho initiated coverage on Braze in a report on Thursday, July 24th. They issued an "outperform" rating and a $40.00 price target for the company. Cantor Fitzgerald initiated coverage on Braze in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $45.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Braze in a report on Friday, June 6th. Wells Fargo & Company lowered their price target on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Braze from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, June 6th. One 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $44.90.

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.