Teacher Retirement System of Texas Takes Position in Braze, Inc. (NASDAQ:BRZE)

Teacher Retirement System of Texas bought a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,752 shares of the company's stock, valued at approximately $388,000.

A number of other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Braze by 12,025.6% in the first quarter. GAMMA Investing LLC now owns 26,555 shares of the company's stock worth $958,000 after purchasing an additional 26,336 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of Braze in the fourth quarter worth $708,000. Proficio Capital Partners LLC bought a new position in shares of Braze in the fourth quarter worth $498,000. Pictet Asset Management Holding SA increased its holdings in shares of Braze by 27.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock worth $374,000 after purchasing an additional 1,938 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Braze in the fourth quarter worth $549,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Susan Wiseman sold 5,143 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $184,530.84. Following the completion of the transaction, the general counsel directly owned 243,856 shares of the company's stock, valued at $8,749,553.28. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jonathan Hyman sold 9,197 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $329,988.36. Following the completion of the sale, the chief technology officer owned 214,024 shares in the company, valued at approximately $7,679,181.12. This trade represents a 4.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,269 shares of company stock valued at $2,479,135. 18.20% of the stock is owned by corporate insiders.

Braze Stock Up 2.3%

Shares of NASDAQ:BRZE traded up $0.64 during midday trading on Friday, hitting $28.88. 1,739,656 shares of the stock traded hands, compared to its average volume of 1,330,591. The stock has a market capitalization of $3.05 billion, a PE ratio of -28.59 and a beta of 1.10. The business's 50 day moving average is $30.89 and its two-hundred day moving average is $35.07. Braze, Inc. has a one year low of $25.22 and a one year high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last issued 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. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) earnings per share. As a group, sell-side analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $68.00 price target on shares of Braze in a report on Friday, June 6th. Stifel Nicolaus set a $50.00 target price on shares of Braze and gave the stock a "buy" rating in a research report on Friday, March 28th. Cantor Fitzgerald initiated coverage on shares of Braze in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $45.00 target price for the company. Stephens set a $41.00 target price on shares of Braze and gave the stock an "overweight" rating in a research report on Friday, June 6th. Finally, Loop Capital cut their target price on shares of Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research report 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.79.

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.