Teacher Retirement System of Texas Buys Shares of 10,752 Braze, Inc. (NASDAQ:BRZE)

Teacher Retirement System of Texas acquired a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,752 shares of the company's stock, valued at approximately $388,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peregrine Capital Management LLC raised its holdings in shares of Braze by 3.4% in the first quarter. Peregrine Capital Management LLC now owns 236,792 shares of the company's stock worth $8,543,000 after acquiring an additional 7,786 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Braze by 65.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,347 shares of the company's stock valued at $301,000 after purchasing an additional 3,304 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Braze in the first quarter valued at $288,000. SG Americas Securities LLC grew its position in shares of Braze by 7.4% in the first 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 during the period. Finally, GAMMA Investing LLC grew its position in shares of Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after purchasing an additional 517 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Astha Malik sold 13,460 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value 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. This trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Magnuson sold 25,089 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $900,193.32. Following the sale, the chief executive officer owned 745,769 shares of the company's stock, valued at approximately $26,758,191.72. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,269 shares of company stock valued at $2,479,135 over the last quarter. 18.20% of the stock is owned by insiders.

Braze Stock Down 0.9%

NASDAQ BRZE traded down $0.25 on Monday, reaching $28.63. 1,429,196 shares of the stock traded hands, compared to its average volume of 1,330,986. The firm's fifty day simple moving average is $30.89 and its 200 day simple moving average is $35.01. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -28.35 and a beta of 1.10. Braze, Inc. has a 12 month low of $25.22 and a 12 month high of $48.33.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BRZE shares. JMP Securities reissued a "market outperform" rating and set a $68.00 price target on shares of Braze in a research report on Friday, June 6th. Piper Sandler lowered their price target on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Barclays decreased their target price on Braze from $70.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Oppenheimer decreased their target price on Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Finally, Loop Capital decreased their target price on Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Braze has an average rating of "Moderate Buy" and a consensus target price of $45.79.

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.