SG Americas Securities LLC Purchases Shares of 19,598 Braze, Inc. (NASDAQ:BRZE)

SG Americas Securities LLC purchased a new position in Braze, Inc. (NASDAQ:BRZE - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,598 shares of the company's stock, valued at approximately $634,000.

Other hedge funds have also recently made changes to their positions in the company. M&G Plc bought a new stake in shares of Braze in the 1st quarter valued at about $6,724,000. Point72 Asset Management L.P. purchased a new position in Braze during the 2nd quarter worth approximately $10,166,000. Vanguard Group Inc. raised its position in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company's stock worth $261,146,000 after buying an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in Braze during the 1st quarter worth approximately $5,714,000. Finally, Mackenzie Financial Corp purchased a new position in Braze during the 2nd quarter worth approximately $971,000. 90.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Braze

In other Braze news, Director Fernando Machado sold 1,377 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares of the company's stock, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the transaction, the director now owns 8,937 shares of the company's stock, valued at $273,919.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Myles Kleeger sold 50,000 shares of Braze stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00. Following the transaction, the insider now directly owns 199,963 shares of the company's stock, valued at $9,128,310.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,403 shares of company stock valued at $7,811,946. 24.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Oppenheimer reduced their price target on shares of Braze from $60.00 to $51.00 and set an "outperform" rating for the company in a research report on Tuesday, September 24th. TD Cowen cut their target price on shares of Braze from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, September 24th. Barclays dropped their price target on shares of Braze from $80.00 to $70.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. UBS Group dropped their price target on shares of Braze from $56.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Braze currently has an average rating of "Buy" and an average price target of $58.53.

Braze Price Performance

Shares of BRZE traded down $0.05 during mid-day trading on Tuesday, reaching $31.63. 1,710,432 shares of the company's stock were exchanged, compared to its average volume of 1,024,059. The business's fifty day simple moving average is $37.54 and its 200-day simple moving average is $39.12. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The stock has a market capitalization of $3.21 billion, a PE ratio of -25.04 and a beta of 1.03.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same period last year, the firm posted ($0.30) EPS. Braze's quarterly revenue was up 26.4% on a year-over-year basis. Equities research analysts predict that Braze, Inc. will post -1.02 earnings per share 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.