Victory Capital Management Inc. Buys 19,567 Shares of Braze, Inc. (NASDAQ:BRZE)

Victory Capital Management Inc. lifted its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 411,544 shares of the company's stock after purchasing an additional 19,567 shares during the period. Victory Capital Management Inc. owned 0.40% of Braze worth $13,309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Comerica Bank boosted its holdings in Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company's stock worth $54,000 after buying an additional 276 shares during the last quarter. Blair William & Co. IL boosted its stake in Braze by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company's stock worth $502,000 after purchasing an additional 283 shares during the period. Advisors Asset Management Inc. increased its holdings in Braze by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company's stock worth $85,000 after purchasing an additional 290 shares in the last quarter. American International Group Inc. raised its stake in shares of Braze by 1.2% in the 1st quarter. American International Group Inc. now owns 26,369 shares of the company's stock valued at $1,168,000 after purchasing an additional 310 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after buying an additional 358 shares during the period. 90.47% of the stock is currently owned by institutional investors.

Insider Transactions at Braze

In related news, CFO Isabelle Winkles sold 10,000 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.15, for a total value of $451,500.00. Following the sale, the chief financial officer now directly owns 216,208 shares of the company's stock, valued at $9,761,791.20. This trade represents a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Roger H. Lee sold 56,830 shares of the company'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 transaction, the insider now directly owns 56,830 shares of the company's stock, valued at $1,720,244.10. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,479 shares of company stock worth $7,148,911. Company insiders own 24.03% of the company's stock.

Analyst Ratings Changes

BRZE has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on shares of Braze in a research report on Tuesday, October 22nd. They issued a "buy" rating and a $37.00 price objective on the stock. Oppenheimer lowered their price target on Braze from $60.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 24th. DA Davidson cut their price objective on Braze from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on shares of Braze from $55.00 to $47.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, UBS Group dropped their price target on shares of Braze from $56.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.47.

Braze Stock Performance

Shares of BRZE stock opened at $36.02 on Thursday. The business's fifty day moving average is $32.86 and its 200 day moving average is $37.48. The company has a market capitalization of $3.70 billion, a PE ratio of -30.53 and a beta of 1.03. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE - Get Free Report) last released its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $141.32 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. The firm's revenue was up 26.4% on a year-over-year basis. On average, sell-side analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

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.