XTX Topco Ltd Invests $469,000 in Braze, Inc. (NASDAQ:BRZE)

Key Points

• XTX Topco Ltd has acquired 13,005 new shares in Braze, Inc., valued at approximately $469,000, indicating strong institutional interest in the company.
• Insider trading activity shows that insiders sold 79,270 shares worth around $2.75 million in the past three months, suggesting fluctuations in internal confidence.
• Analysts have mixed ratings on Braze, with a consensus rating of "Moderate Buy" and an average price target lowered to $45.50 from previous higher estimates.

XTX Topco Ltd bought a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,005 shares of the company's stock, valued at approximately $469,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pictet Asset Management Holding SA grew its holdings in shares of Braze by 27.7% during 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Braze by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,535,965 shares of the company's stock worth $64,340,000 after purchasing an additional 38,777 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Braze by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 100,450 shares of the company's stock worth $4,207,000 after purchasing an additional 3,471 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after purchasing an additional 827 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Braze during the fourth quarter worth about $208,000. Institutional investors own 90.47% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BRZE shares. Cantor Fitzgerald started coverage on shares of Braze in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $45.00 price objective on the stock. DA Davidson reduced their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group reduced their price objective on shares of Braze from $51.00 to $48.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Loop Capital reduced their price objective on shares of Braze from $75.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Braze in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $45.50.

Braze Stock Performance

Shares of Braze stock traded up $0.09 on Tuesday, reaching $24.22. 358,584 shares of the company's stock were exchanged, compared to its average volume of 1,364,213. The company has a market capitalization of $2.56 billion, a P/E ratio of -23.96 and a beta of 1.10. Braze, Inc. has a 52 week low of $23.96 and a 52 week high of $48.33. The firm's 50-day moving average is $28.24 and its two-hundred day moving average is $33.17.

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

Insider Activity at Braze

In other news, CTO Jonathan Hyman sold 9,197 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 transaction of $329,988.36. Following the transaction, the chief technology officer owned 214,024 shares of the company's stock, valued at $7,679,181.12. This represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Susan Wiseman sold 5,143 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $184,530.84. Following the transaction, the general counsel directly owned 243,856 shares in the company, valued at $8,749,553.28. This trade represents a 2.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,270 shares of company stock worth $2,749,255. 18.20% of the stock is currently owned by insiders.

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.