M&G Plc Purchases 91,161 Shares of Braze, Inc. (NASDAQ:BRZE)

M&G PLC increased its stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 53.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,963 shares of the company's stock after purchasing an additional 91,161 shares during the period. M&G PLC owned approximately 0.26% of Braze worth $8,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company's stock valued at $41,000 after buying an additional 738 shares during the period. Quarry LP acquired a new position in Braze in the second quarter valued at about $50,000. Comerica Bank increased its holdings in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company's stock worth $54,000 after acquiring an additional 276 shares in the last quarter. Amalgamated Bank raised its position in shares of Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after purchasing an additional 358 shares during the period. Finally, Canton Hathaway LLC lifted its holdings in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company's stock valued at $77,000 after purchasing an additional 1,187 shares in the last quarter. Institutional investors own 90.47% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group dropped their price target on Braze from $56.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. TD Cowen dropped their target price on shares of Braze from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, September 24th. Barclays reduced their price target on Braze from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Monday, August 26th. Oppenheimer dropped their price objective on Braze from $60.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 24th. Finally, Loop Capital reiterated a "buy" rating and set a $75.00 target price on shares of Braze in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Braze has a consensus rating of "Moderate Buy" and a consensus target price of $55.32.

Insider Transactions at Braze

In other Braze news, CFO Isabelle Winkles sold 8,207 shares of Braze stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $339,523.59. Following the transaction, the chief financial officer now directly owns 234,420 shares of the company's stock, valued at approximately $9,697,955.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Roger H. Lee sold 56,830 shares of the business's stock in a transaction on Friday, October 11th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Isabelle Winkles sold 8,207 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $339,523.59. Following the sale, the chief financial officer now owns 234,420 shares of the company's stock, valued at approximately $9,697,955.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,658 shares of company stock worth $7,980,396. Company insiders own 24.03% of the company's stock.

Braze Stock Performance

Braze stock traded down $0.43 during midday trading on Friday, reaching $34.59. The company's stock had a trading volume of 1,062,187 shares, compared to its average volume of 1,150,978. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53. The business has a 50-day moving average price of $33.45 and a 200-day moving average price of $37.83.

Braze (NASDAQ:BRZE - Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.12. The firm 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 revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. As a group, analysts expect that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Braze Company 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.