Renaissance Capital LLC Grows Stock Position in Braze, Inc. (NASDAQ:BRZE)

Renaissance Capital LLC grew its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 51.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,574 shares of the company's stock after acquiring an additional 23,901 shares during the quarter. Braze comprises about 1.5% of Renaissance Capital LLC's portfolio, making the stock its 17th largest position. Renaissance Capital LLC owned 0.07% of Braze worth $2,282,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BRZE. Covestor Ltd increased its holdings in Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company's stock worth $41,000 after purchasing an additional 738 shares during the period. Quarry LP bought a new position in Braze during the 2nd quarter worth about $50,000. Comerica Bank increased its position in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company's stock valued at $54,000 after purchasing an additional 276 shares during the period. Canton Hathaway LLC raised its holdings in shares of Braze by 149.9% in 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. Finally, RiverPark Advisors LLC increased its holdings in Braze by 360.9% during the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company's stock valued at $80,000 after buying an additional 1,411 shares during the period. Institutional investors own 90.47% of the company's stock.

Insiders Place Their Bets

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the firm'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 completion of the sale, the insider now owns 56,830 shares of the company's stock, valued at $1,720,244.10. 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 is available through the SEC website. In other news, major shareholder Roger H. Lee sold 56,830 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 56,830 shares of the company's stock, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Myles Kleeger sold 50,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the sale, the insider now directly owns 199,963 shares in the company, valued at approximately $9,128,310.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,737 shares of company stock valued at $9,301,358 over the last ninety days. Company insiders own 24.03% of the company's stock.

Analysts Set New Price Targets

BRZE has been the topic of several recent research reports. Oppenheimer dropped their target price on Braze from $60.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 24th. Barclays dropped their price objective on Braze from $80.00 to $70.00 and set an "overweight" rating on the stock in a research report on Monday, August 26th. Piper Sandler decreased their price target on shares of Braze from $51.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, October 10th. UBS Group lowered their price target on shares of Braze from $56.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Finally, DA Davidson reduced their price objective on shares of Braze from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, September 24th. Eighteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze presently has a consensus rating of "Buy" and a consensus target price of $58.53.

Braze Trading Down 3.0 %

BRZE traded down $0.94 on Wednesday, reaching $30.69. The stock had a trading volume of 1,721,575 shares, compared to its average volume of 1,030,738. The business's 50-day moving average price is $37.29 and its two-hundred day moving average price is $38.97. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The company has a market cap of $3.12 billion, a P/E ratio of -23.98 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, topping 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 company had revenue of $145.50 million during the quarter, compared to analysts' expectations of $141.32 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The firm's revenue for the quarter was up 26.4% on a year-over-year basis. As a group, analysts predict that Braze, Inc. will post -1.02 earnings per share for the current 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.