Braze, Inc. (NASDAQ:BRZE) Stake Increased by King Luther Capital Management Corp

King Luther Capital Management Corp increased its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 17.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,156 shares of the company's stock after purchasing an additional 15,583 shares during the period. King Luther Capital Management Corp owned 0.10% of Braze worth $3,401,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BRZE. Covestor Ltd lifted its stake in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company's stock worth $41,000 after acquiring an additional 738 shares during the period. Quarry LP acquired a new stake in shares of Braze in the 2nd quarter worth $50,000. 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. KBC Group NV lifted its stake in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company's stock valued at $68,000 after purchasing an additional 615 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock valued at $73,000 after purchasing an additional 358 shares during the period. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Price Performance

Shares of BRZE traded up $0.73 during mid-day trading on Friday, hitting $38.71. The company had a trading volume of 851,926 shares, compared to its average volume of 1,015,501. The business's 50-day simple moving average is $32.92 and its 200-day simple moving average is $37.48. 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 released its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to analysts' expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company's quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the company earned ($0.30) earnings per share. As a group, sell-side analysts expect that Braze, Inc. will post -1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Loop Capital reiterated a "buy" rating and issued a $75.00 price objective on shares of Braze in a research note on Tuesday, September 24th. The Goldman Sachs Group reduced their price objective on shares of Braze from $65.00 to $47.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price objective on shares of Braze from $55.00 to $47.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, Macquarie assumed coverage on shares of Braze in a report on Thursday, October 31st. They set a "neutral" rating and a $30.00 target price for the company. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.47.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 50,000 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the transaction, the insider now directly owns 199,963 shares of the company's stock, valued at approximately $9,128,310.95. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the business's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the transaction, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 190,479 shares of company stock valued at $7,148,911 over the last ninety days. Corporate insiders own 24.03% of the company's stock.

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.