Invesco Ltd. Buys 1,015,007 Shares of Braze, Inc. (NASDAQ:BRZE)

Invesco Ltd. increased its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 107.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,963,841 shares of the company's stock after acquiring an additional 1,015,007 shares during the quarter. Invesco Ltd. owned about 1.90% of Braze worth $82,246,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC bought a new stake in Braze during the fourth quarter valued at $208,000. Aster Capital Management DIFC Ltd increased its holdings in Braze by 9,188.9% in 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 in the last quarter. Oribel Capital Management LP bought a new position in shares of Braze during the 4th quarter worth approximately $13,108,000. Wells Fargo & Company MN grew its position in shares of Braze by 3.6% during the 4th quarter. Wells Fargo & Company MN now owns 100,450 shares of the company's stock worth $4,207,000 after buying an additional 3,471 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Braze during the 4th quarter valued at $215,000. 90.47% of the stock is currently owned by institutional investors.

Insider Transactions at Braze

In other news, CTO Jonathan Hyman sold 5,210 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $212,672.20. Following the transaction, the chief technology officer now owns 157,810 shares of the company's stock, valued at $6,441,804.20. This represents a 3.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Myles Kleeger sold 7,149 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $291,822.18. Following the sale, the insider now directly owns 177,247 shares in the company, valued at approximately $7,235,222.54. This trade represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,937 shares of company stock worth $2,707,581 in the last quarter. Insiders own 24.03% of the company's stock.

Braze Stock Up 2.8 %

Braze stock traded up $0.79 during mid-day trading on Friday, reaching $29.21. 1,005,433 shares of the company's stock were exchanged, compared to its average volume of 1,225,835. The business's fifty day simple moving average is $35.51 and its 200 day simple moving average is $37.63. Braze, Inc. has a one year low of $27.75 and a one year high of $48.33. The firm has a market capitalization of $3.06 billion, a PE ratio of -25.62 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same period in the previous year, the firm earned ($0.04) EPS. The firm's quarterly revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BRZE. Stephens started coverage on shares of Braze in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target for the company. Stifel Nicolaus set a $50.00 price target on Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Canaccord Genuity Group raised their price objective on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $55.00 target price (up from $50.00) on shares of Braze in a research report on Friday, March 28th. Finally, Citigroup lifted their price target on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Braze presently has a consensus rating of "Buy" and a consensus price target of $52.50.

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.