WCM Investment Management LLC Has $13.22 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

WCM Investment Management LLC grew its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,022 shares of the company's stock after acquiring an additional 50,113 shares during the period. WCM Investment Management LLC owned 0.39% of Braze worth $13,222,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company's stock worth $261,146,000 after buying an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in Braze by 6.6% during the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company's stock worth $92,357,000 after acquiring an additional 128,645 shares in the last quarter. Fiera Capital Corp lifted its holdings in Braze by 1.0% during the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company's stock worth $30,320,000 after buying an additional 7,570 shares during the last quarter. Stephens Investment Management Group LLC acquired a new stake in Braze during the third quarter worth approximately $20,794,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Braze by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company's stock valued at $18,554,000 after acquiring an additional 73,764 shares during the period. Institutional investors own 90.47% of the company's stock.

Insiders Place Their Bets

In related news, CAO Pankaj Malik sold 2,453 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $101,480.61. Following the sale, the chief accounting officer now directly owns 70,527 shares of the company's stock, valued at approximately $2,917,701.99. 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 this hyperlink. In related news, CFO Isabelle Winkles sold 8,207 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $339,523.59. Following the sale, the chief financial officer now directly owns 234,420 shares of the company's stock, valued at approximately $9,697,955.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 2,453 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $101,480.61. Following the transaction, the chief accounting officer now directly owns 70,527 shares of the company's stock, valued at $2,917,701.99. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,658 shares of company stock valued at $7,980,396. Insiders own 24.03% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BRZE. JMP Securities reaffirmed a "market outperform" rating and issued a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. Stifel Nicolaus began coverage on shares of Braze in a report on Tuesday, October 22nd. They issued a "buy" rating and a $37.00 price objective on the stock. Barclays cut their price objective on Braze from $80.00 to $70.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Loop Capital restated a "buy" rating and set a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Finally, UBS Group cut their price target on Braze from $56.00 to $51.00 and set a "buy" rating for the company in a 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.47.

Braze Stock Down 0.1 %

Shares of BRZE traded down $0.03 during trading hours on Tuesday, reaching $35.70. 691,731 shares of the company traded hands, compared to its average volume of 1,022,683. The stock has a market capitalization of $3.67 billion, a P/E ratio of -30.40 and a beta of 1.03. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The business has a fifty day moving average price of $33.27 and a 200-day moving average price of $37.74.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $141.32 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. 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 EPS for the current fiscal year.

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.