Thrivent Financial for Lutherans Takes $708,000 Position in Braze, Inc. (NASDAQ:BRZE)

Thrivent Financial for Lutherans purchased a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,897 shares of the company's stock, valued at approximately $708,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Cibc World Markets Corp purchased a new position in shares of Braze in the 4th quarter valued at approximately $258,000. Swiss National Bank increased its position in Braze by 7.1% during the fourth quarter. Swiss National Bank now owns 121,600 shares of the company's stock valued at $5,093,000 after acquiring an additional 8,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Braze by 185.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 71,535 shares of the company's stock valued at $2,996,000 after purchasing an additional 46,452 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after purchasing an additional 928 shares during the period. Finally, HighTower Advisors LLC raised its stake in Braze by 38.7% during the 4th quarter. HighTower Advisors LLC now owns 11,007 shares of the company's stock worth $461,000 after acquiring an additional 3,071 shares during the period. Hedge funds and other institutional investors own 90.47% of the company's stock.

Analyst Upgrades and Downgrades

BRZE has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. DA Davidson reissued a "buy" rating and set a $50.00 price target on shares of Braze in a report on Wednesday, March 26th. Piper Sandler upped their price objective on Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 10th. Canaccord Genuity Group lifted their target price on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Oppenheimer restated an "outperform" rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $53.00.

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Braze Stock Performance

BRZE stock traded down $0.84 during midday trading on Monday, reaching $30.14. 1,759,154 shares of the company traded hands, compared to its average volume of 1,211,107. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -26.44 and a beta of 1.13. Braze, Inc. has a 52-week low of $28.65 and a 52-week high of $48.33. The business has a 50 day moving average of $38.30 and a 200-day moving average of $37.97.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. Braze's quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other Braze news, General Counsel Susan Wiseman sold 10,000 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the transaction, the general counsel now directly owns 189,520 shares in the company, valued at $8,949,134.40. This trade represents a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the sale, the director now owns 15,269 shares of the company's stock, valued at $633,052.74. This represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,270 shares of company stock valued at $2,643,182. 24.03% of the stock is currently owned by insiders.

About Braze

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.