Braze, Inc. (NASDAQ:BRZE) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 12.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 509,767 shares of the company's stock after purchasing an additional 57,713 shares during the period. Charles Schwab Investment Management Inc. owned about 0.50% of Braze worth $16,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Comerica Bank raised its stake in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company's stock valued at $54,000 after purchasing an additional 276 shares during the period. Blair William & Co. IL raised its position in shares of Braze by 2.2% during the second quarter. Blair William & Co. IL now owns 12,928 shares of the company's stock valued at $502,000 after buying an additional 283 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after buying an additional 358 shares in the last quarter. Creative Planning boosted its position in shares of Braze by 1.7% during the second quarter. Creative Planning now owns 23,121 shares of the company's stock worth $898,000 after acquiring an additional 384 shares during the last quarter. Finally, KBC Group NV grew its stake in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company's stock valued at $68,000 after acquiring an additional 615 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Roger H. Lee sold 56,830 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the transaction, the insider now owns 56,830 shares in the company, valued at $1,720,244.10. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Myles Kleeger sold 9,225 shares of Braze stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $317,801.25. Following the completion of the sale, the insider now directly owns 190,738 shares in the company, valued at $6,570,924.10. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,979 shares of company stock worth $3,688,914. Company insiders own 24.03% of the company's stock.

Analysts Set New Price Targets

BRZE has been the topic of several research analyst reports. Oppenheimer decreased their price target on shares of Braze from $60.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 24th. UBS Group dropped their price target on Braze from $56.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Barclays reduced their target price on shares of Braze from $80.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, August 26th. TD Cowen reduced their price objective on Braze from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, September 24th. Finally, Macquarie began coverage on Braze in a research note on Thursday, October 31st. They issued a "neutral" rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Braze has an average rating of "Moderate Buy" and a consensus price target of $53.95.

Braze Stock Performance

Braze stock traded up $0.17 during trading hours on Friday, hitting $41.46. The company had a trading volume of 1,851,854 shares, compared to its average volume of 1,361,383. The firm has a market cap of $4.26 billion, a P/E ratio of -35.14 and a beta of 1.15. The company has a 50-day moving average price of $34.10 and a two-hundred day moving average price of $37.25. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53.

Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business's quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.30) EPS. As a group, equities research analysts anticipate that Braze, Inc. will post -1.02 EPS for the current year.

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.