Braze, Inc. (NASDAQ:BRZE) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 38.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 455,170 shares of the company's stock after selling 286,770 shares during the quarter. Federated Hermes Inc. owned 0.45% of Braze worth $17,679,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. LGT Fund Management Co Ltd. purchased a new position in Braze in the 2nd quarter worth about $308,000. EDBI Pte Ltd purchased a new stake in shares of Braze in the second quarter valued at approximately $615,000. Quest Partners LLC grew its stake in Braze by 923.8% in the second quarter. Quest Partners LLC now owns 35,373 shares of the company's stock worth $1,374,000 after purchasing an additional 31,918 shares in the last quarter. Arizona State Retirement System increased its holdings in Braze by 4.8% during the 2nd quarter. Arizona State Retirement System now owns 15,466 shares of the company's stock worth $601,000 after purchasing an additional 712 shares during the period. Finally, Victory Capital Management Inc. raised its position in Braze by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 391,977 shares of the company's stock valued at $15,224,000 after purchasing an additional 38,504 shares in the last quarter. Institutional investors own 90.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $70.00 price target on shares of Braze in a research report on Friday, September 6th. Scotiabank upgraded shares of Braze from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Raymond James lowered their price target on shares of Braze from $65.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, June 7th. Citigroup lifted their price objective on shares of Braze from $52.00 to $58.00 and gave the company a "buy" rating in a report on Friday, June 7th. Finally, Canaccord Genuity Group upped their target price on Braze from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, June 7th. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze has an average rating of "Buy" and an average target price of $60.50.

Insiders Place Their Bets

In other news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the transaction, the chief financial officer now directly owns 242,627 shares of the company's stock, valued at $9,477,010.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $39.06, for a total value of $175,770.00. Following the sale, the chief financial officer now owns 242,627 shares in the company, valued at $9,477,010.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 50,000 shares of the firm's stock in a transaction on Monday, August 26th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 191,345 shares of company stock valued at $8,232,925. 24.03% of the stock is owned by company insiders.

Braze Stock Down 0.1 %

Shares of BRZE traded down $0.03 during mid-day trading on Monday, hitting $35.10. 906,143 shares of the company traded hands, compared to its average volume of 968,920. The company has a market capitalization of $3.57 billion, a PE ratio of -27.41 and a beta of 1.07. The business has a 50 day moving average of $40.76 and a 200 day moving average of $42.04. Braze, Inc. has a 1-year low of $33.24 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze's revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.30) EPS. As a group, research analysts expect that Braze, Inc. will post -1.05 EPS for the current fiscal 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.