Stephens Investment Management Group LLC Invests $20.79 Million in Braze, Inc. (NASDAQ:BRZE)

Stephens Investment Management Group LLC acquired a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 642,970 shares of the company's stock, valued at approximately $20,794,000. Stephens Investment Management Group LLC owned about 0.63% of Braze at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd boosted its position in shares of Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company's stock valued at $41,000 after buying an additional 738 shares during the last quarter. Quarry LP bought a new stake in shares of Braze in the 2nd quarter worth $50,000. Comerica Bank raised 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 valued at $54,000 after purchasing an additional 276 shares during the last quarter. Canton Hathaway LLC lifted its position in shares of Braze by 149.9% during the second 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 boosted its holdings in Braze by 360.9% during the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company's stock worth $80,000 after purchasing an additional 1,411 shares during the last quarter. 90.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Braze news, CFO Isabelle Winkles sold 8,207 shares of Braze stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $339,523.59. Following the completion of the sale, the chief financial officer now directly owns 234,420 shares in the company, valued at $9,697,955.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 56,830 shares of the company's stock, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,658 shares of company stock worth $7,980,396 in the last three months. 24.03% of the stock is currently owned by corporate insiders.

Braze Price Performance

Shares of NASDAQ:BRZE traded up $0.21 during trading on Friday, hitting $31.67. 760,519 shares of the company were exchanged, compared to its average volume of 1,024,952. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The stock has a 50 day moving average of $34.62 and a 200 day moving average of $38.04. The company has a market cap of $3.25 billion, a PE ratio of -26.84 and a beta of 1.03.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same quarter last year, the company earned ($0.30) EPS. The firm's revenue was up 26.4% compared to the same quarter last year. Sell-side analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on BRZE. Scotiabank upgraded shares of Braze from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the company from $48.00 to $56.00 in a research note on Wednesday, July 10th. Piper Sandler decreased their price target on 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 cut their price objective on Braze from $56.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. JMP Securities reaffirmed a "market outperform" rating and set a $68.00 target price on shares of Braze in a research report on Tuesday, September 24th. Finally, Oppenheimer lowered their target price on Braze from $60.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.32.

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.