Raymond James Financial Inc. Purchases New Shares in Braze, Inc. (NASDAQ:BRZE)

Raymond James Financial Inc. bought a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,584 shares of the company's stock, valued at approximately $1,197,000.

Several other hedge funds also recently modified their holdings of BRZE. Charles Schwab Investment Management Inc. lifted its holdings in Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company's stock valued at $16,486,000 after buying an additional 57,713 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Braze by 5.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 36,344 shares of the company's stock valued at $1,175,000 after acquiring an additional 1,751 shares during the last quarter. FMR LLC lifted its stake in shares of Braze by 393.1% in the 3rd quarter. FMR LLC now owns 11,829 shares of the company's stock valued at $383,000 after purchasing an additional 9,430 shares during the period. MetLife Investment Management LLC boosted its position in shares of Braze by 22.7% in the 3rd quarter. MetLife Investment Management LLC now owns 37,644 shares of the company's stock worth $1,217,000 after purchasing an additional 6,955 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Braze by 42.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,904 shares of the company's stock worth $579,000 after purchasing an additional 5,355 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

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Braze Stock Down 2.7 %

BRZE traded down $0.84 during trading hours on Monday, hitting $30.14. 1,759,154 shares of the company's stock were exchanged, compared to its average volume of 1,211,107. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -26.44 and a beta of 1.13. Braze, Inc. has a 1-year low of $28.65 and a 1-year high of $48.33. The stock's 50-day moving average is $38.30 and its two-hundred day moving average is $37.97.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The company had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company's quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. On average, equities research analysts anticipate that Braze, Inc. will post -0.98 EPS for the current year.

Analyst Ratings Changes

BRZE has been the topic of several analyst reports. Piper Sandler increased their target price on Braze from $40.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Stephens assumed coverage on shares of Braze in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target on the stock. Raymond James boosted their price objective on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, March 28th. William Blair reiterated an "outperform" rating on shares of Braze in a report on Thursday, December 19th. Finally, Macquarie lifted their price target on shares of Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Braze presently has a consensus rating of "Buy" and a consensus price target of $53.00.

Insiders Place Their Bets

In other news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the transaction, the director now owns 15,269 shares of the company's stock, valued at $633,052.74. This trade represents a 8.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Pankaj Malik sold 2,585 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $105,519.70. Following the transaction, the chief accounting officer now owns 52,199 shares in the company, valued at $2,130,763.18. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,270 shares of company stock valued at $2,643,182 in the last 90 days. 24.03% of the stock is currently owned by insiders.

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.