Raymond James Financial Inc. Makes New Investment in Braze, Inc. (NASDAQ:BRZE)

Raymond James Financial Inc. acquired a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 28,584 shares of the company's stock, valued at approximately $1,197,000.

Several other large investors also recently made changes to their positions in BRZE. Legal & General Group Plc boosted its position in Braze by 8.0% during the 4th quarter. Legal & General Group Plc now owns 66,713 shares of the company's stock worth $2,794,000 after purchasing an additional 4,964 shares during the period. Invesco Ltd. boosted its position in shares of Braze by 107.0% in the fourth quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock worth $82,246,000 after buying an additional 1,015,007 shares during the period. Cerity Partners LLC purchased a new stake in shares of Braze in the fourth quarter worth about $208,000. Aster Capital Management DIFC Ltd grew its stake in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after buying an additional 827 shares in the last quarter. Finally, Oribel Capital Management LP purchased a new stake in shares of Braze during the 4th quarter valued at about $13,108,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Price Performance

Shares of BRZE traded up $1.19 during trading hours on Wednesday, reaching $32.62. 1,082,592 shares of the company's stock traded hands, compared to its average volume of 1,239,918. The business's fifty day simple moving average is $33.01 and its two-hundred day simple moving average is $37.65. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -28.61 and a beta of 1.15. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33.

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

Analyst Ratings Changes

A number of research firms have weighed in on BRZE. Piper Sandler decreased their price target on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Stephens began coverage on shares of Braze in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target for the company. DA Davidson cut their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Braze in a research report on Friday, March 28th. Finally, Stifel Nicolaus set a $50.00 target price on Braze and gave the stock a "buy" rating in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Braze presently has a consensus rating of "Buy" and a consensus price target of $51.25.

Insider Activity

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total value of $61,950.00. Following the transaction, the director now owns 15,269 shares of the company's stock, valued at approximately $630,609.70. This represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 2,585 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $105,519.70. Following the sale, the chief accounting officer now owns 52,199 shares of the company's stock, valued at $2,130,763.18. This trade represents a 4.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,937 shares of company stock worth $2,235,381 over the last 90 days. 24.03% of the stock is currently owned by company insiders.

About Braze

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.