Stephens Investment Management Group LLC Grows Stake in Braze, Inc. (NASDAQ:BRZE)

Stephens Investment Management Group LLC boosted its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 801,670 shares of the company's stock after acquiring an additional 29,402 shares during the quarter. Stephens Investment Management Group LLC owned 0.77% of Braze worth $28,924,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BRZE. Mercer Global Advisors Inc. ADV boosted its stake in Braze by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock valued at $559,000 after purchasing an additional 316 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC boosted its stake in Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after purchasing an additional 517 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after purchasing an additional 827 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Braze by 7.4% during the 1st quarter. SG Americas Securities LLC now owns 12,604 shares of the company's stock valued at $455,000 after purchasing an additional 868 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Price Performance

Braze stock traded up $0.57 during trading hours on Wednesday, hitting $27.21. The company had a trading volume of 1,145,856 shares, compared to its average volume of 1,323,113. The firm has a market cap of $2.87 billion, a PE ratio of -26.94 and a beta of 1.10. Braze, Inc. has a one year low of $25.22 and a one year high of $48.33. The firm has a 50-day moving average of $31.09 and a 200 day moving average of $35.30.

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. The company had revenue of $162.06 million for the quarter, compared to analysts' expectations of $158.60 million. Braze had a negative net margin of 16.76% and a negative return on equity of 18.89%. The business's revenue for the quarter was up 19.6% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. As a group, research analysts expect that Braze, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BRZE has been the subject of several research reports. Canaccord Genuity Group raised their price objective on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Citigroup raised their price objective on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Loop Capital reduced their price objective on Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Stephens set a $41.00 price objective on Braze and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, Raymond James Financial reduced their price objective on Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Braze currently has an average rating of "Moderate Buy" and an average price target of $45.79.

Insider Transactions at Braze

In other news, insider Myles Kleeger sold 9,189 shares of Braze stock in a transaction on Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $329,701.32. Following the transaction, the insider owned 159,693 shares in the company, valued at approximately $5,729,784.84. The trade was a 5.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Susan Wiseman sold 4,786 shares of Braze stock in a transaction on Monday, July 14th. The stock was sold at an average price of $27.08, for a total transaction of $129,604.88. Following the transaction, the general counsel directly owned 239,655 shares of the company's stock, valued at $6,489,857.40. This represents a 1.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,269 shares of company stock valued at $2,479,135. Corporate 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.