UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 12,917 Shares of Braze, Inc. (NASDAQ:BRZE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 354,645 shares of the company's stock after selling 12,917 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.35% of Braze worth $11,469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BRZE. Comerica Bank lifted its stake in shares of Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company's stock worth $54,000 after acquiring an additional 276 shares during the period. M&G Plc lifted its position in Braze by 12.4% in the second quarter. M&G Plc now owns 171,802 shares of the company's stock worth $6,700,000 after purchasing an additional 18,985 shares during the period. Diversified Trust Co boosted its stake in Braze by 23.7% during the 2nd quarter. Diversified Trust Co now owns 25,647 shares of the company's stock valued at $996,000 after purchasing an additional 4,919 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Braze during the 2nd quarter valued at $2,575,000. Finally, Canton Hathaway LLC raised its stake in shares of Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company's stock worth $77,000 after buying an additional 1,187 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Braze

In related news, CEO William Magnuson sold 17,933 shares of Braze stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $617,791.85. Following the completion of the transaction, the chief executive officer now directly owns 582,816 shares of the company's stock, valued at $20,078,011.20. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Pankaj Malik sold 3,432 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the transaction, the chief accounting officer now owns 67,095 shares in the company, valued at approximately $2,311,422.75. This trade represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,979 shares of company stock valued at $3,688,914. 24.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BRZE shares. Oppenheimer lowered their target price on Braze from $60.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, September 24th. Piper Sandler lowered their price objective on shares of Braze from $51.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Needham & Company LLC reissued a "buy" rating and set a $70.00 target price on shares of Braze in a research note on Tuesday, September 24th. UBS Group decreased their price target on shares of Braze from $56.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group dropped their price target on Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, Braze has a consensus rating of "Moderate Buy" and a consensus target price of $53.95.

Braze Stock Up 0.4 %

Shares of NASDAQ:BRZE traded up $0.17 during trading on Friday, reaching $41.46. 1,851,854 shares of the company traded hands, 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. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The firm has a fifty day simple moving average of $34.10 and a 200 day simple moving average of $37.29.

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

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.