New York State Common Retirement Fund Boosts Holdings in Braze, Inc. (NASDAQ:BRZE)

New York State Common Retirement Fund increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 814.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 178,514 shares of the company’s stock after buying an additional 158,986 shares during the period. New York State Common Retirement Fund owned about 0.18% of Braze worth $9,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of BRZE. Handelsbanken Fonder AB lifted its stake in Braze by 58.8% during the 4th quarter. Handelsbanken Fonder AB now owns 8,100 shares of the company’s stock valued at $430,000 after acquiring an additional 3,000 shares during the period. EDBI Pte Ltd increased its stake in Braze by 100.0% during the fourth quarter. EDBI Pte Ltd now owns 10,558 shares of the company’s stock worth $561,000 after acquiring an additional 5,279 shares during the last quarter. Calamos Advisors LLC boosted its position in shares of Braze by 108.4% during the 4th quarter. Calamos Advisors LLC now owns 50,853 shares of the company’s stock worth $2,702,000 after purchasing an additional 26,454 shares during the period. Federated Hermes Inc. grew its position in Braze by 90.7% in the 4th quarter. Federated Hermes Inc. now owns 503,994 shares of the company’s stock valued at $26,777,000 after acquiring an additional 239,742 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Braze by 14.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,112 shares of the company’s stock valued at $590,000 after purchasing an additional 1,434 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Braze news, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now directly owns 244,291 shares in the company, valued at $13,914,815.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Myles Kleeger sold 15,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total value of $854,400.00. Following the completion of the transaction, the insider now owns 244,291 shares in the company, valued at approximately $13,914,815.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $41.79, for a total value of $62,685.00. Following the completion of the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at $462,030.24. The disclosure for this sale can be found here. Insiders sold 77,815 shares of company stock valued at $4,164,679 over the last 90 days. 26.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on BRZE. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Braze in a research note on Thursday, March 28th. Scotiabank lowered their price target on shares of Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday, March 28th. Piper Sandler reiterated an “overweight” rating and set a $66.00 target price on shares of Braze in a research report on Friday, April 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $75.00 price objective on shares of Braze in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.12.

Braze Price Performance

Shares of NASDAQ BRZE opened at $40.44 on Thursday. Braze, Inc. has a one year low of $25.76 and a one year high of $61.53. The business’s 50-day moving average price is $48.03 and its two-hundred day moving average price is $50.51. The company has a market capitalization of $4.08 billion, a P/E ratio of -30.41 and a beta of 1.13.

Braze (NASDAQ:BRZE) last posted its earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. The company had revenue of $130.96 million during the quarter, compared to the consensus estimate of $124.55 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. On average, equities analysts anticipate that Braze, Inc. will post -1.18 EPS for the current year.

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.