SpiderRock Advisors LLC Takes Position in Braze, Inc. (NASDAQ:BRZE)

SpiderRock Advisors LLC purchased a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 34,691 shares of the company's stock, valued at approximately $1,122,000.

Several other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Braze during the 1st quarter worth approximately $114,000. Oppenheimer Asset Management Inc. increased its position in shares of Braze by 15.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,938 shares of the company's stock worth $307,000 after purchasing an additional 923 shares during the last quarter. Swiss National Bank increased its holdings in shares of Braze by 14.3% in the 1st quarter. Swiss National Bank now owns 106,000 shares of the company's stock worth $4,696,000 after buying an additional 13,300 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Braze by 12.9% during the 1st quarter. Sei Investments Co. now owns 112,970 shares of the company's stock worth $5,005,000 after acquiring an additional 12,878 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Braze in the first quarter worth $121,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Trading Up 2.1 %

Braze stock traded up $0.72 during midday trading on Monday, hitting $35.31. The stock had a trading volume of 388,964 shares, compared to its average volume of 1,023,808. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The firm's fifty day moving average is $33.45 and its two-hundred day moving average is $37.78.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $141.32 million. During the same quarter in the prior year, the firm posted ($0.30) EPS. Braze's quarterly revenue was up 26.4% compared to the same quarter last year. As a group, research analysts predict that Braze, Inc. will post -1.02 earnings per share for the current year.

Insider Activity

In other news, major shareholder Roger H. Lee sold 56,830 shares of the company'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 sale, the insider now directly owns 56,830 shares of the company's stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Braze news, Director Fernando Machado sold 1,377 shares of the 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 sale, the director now owns 8,937 shares in the company, valued at $273,919.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,658 shares of company stock worth $7,980,396 over the last quarter. Insiders own 24.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BRZE. Loop Capital restated a "buy" rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. Oppenheimer dropped 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. Stifel Nicolaus started coverage on shares of Braze in a report on Tuesday, October 22nd. They set a "buy" rating and a $37.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on Braze from $55.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat, Braze presently has an average rating of "Moderate Buy" and a consensus target price 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.