Braze, Inc. $BRZE Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in shares of Braze, Inc. (NASDAQ:BRZE) by 24.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,800,808 shares of the company’s stock after selling 1,248,415 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Braze were worth $95,400,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRZE. Fifth Third Bancorp acquired a new stake in shares of Braze in the first quarter valued at $27,000. Harbor Investment Advisory LLC acquired a new position in Braze during the second quarter worth about $36,000. Integrated Wealth Concepts LLC acquired a new position in Braze during the second quarter worth about $50,000. Essential Partners LLC grew its holdings in Braze by 109.8% during the first quarter. Essential Partners LLC now owns 2,174 shares of the company’s stock worth $51,000 after acquiring an additional 1,138 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Braze by 185.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,355 shares of the company’s stock worth $56,000 after acquiring an additional 1,531 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BRZE. UBS Group downgraded shares of Braze from a “buy” rating to a “hold” rating and set a $47.50 price target for the company. in a report on Tuesday, October 20th. Loop Capital lowered shares of Braze from a “buy” rating to a “hold” rating and set a $47.50 price objective for the company. in a research report on Tuesday, October 20th. Wells Fargo & Company cut shares of Braze from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $45.00 to $47.50 in a research note on Tuesday, October 20th. Citizens Jmp reiterated a “market outperform” rating and issued a $35.00 target price on shares of Braze in a report on Monday, October 5th. Finally, Stifel Nicolaus downgraded shares of Braze from a “buy” rating to a “hold” rating and boosted their target price for the stock from $35.00 to $47.50 in a report on Tuesday, October 20th. Five investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.95.

Braze Stock Performance

BRZE opened at $46.08 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.02. The firm has a market cap of $5.23 billion, a PE ratio of -44.74 and a beta of 0.77. The business has a fifty day simple moving average of $32.86 and a 200-day simple moving average of $25.25. Braze, Inc. has a fifty-two week low of $15.26 and a fifty-two week high of $46.34.

Braze (NASDAQ:BRZE) last announced its earnings results on Tuesday, September 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $227.23 million for the quarter, compared to analyst estimates of $220.27 million. Braze had a negative return on equity of 16.11% and a negative net margin of 13.55%. Braze’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share. Braze has set its FY 2027 guidance at 0.640-0.650 EPS and its Q3 2027 guidance at 0.130-0.140 EPS. As a group, equities analysts predict that Braze, Inc. will post -0.70 EPS for the current fiscal year.

Insider Activity at Braze

In other Braze news, CTO Jonathan Hyman sold 285,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $45.33, for a total transaction of $12,919,050.00. Following the sale, the chief technology officer owned 848,219 shares in the company, valued at approximately $38,449,767.27. The trade was a 25.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Edward M. Mcdonnell sold 29,732 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $31.38, for a total transaction of $932,990.16. Following the sale, the executive directly owned 409,630 shares of the company’s stock, valued at $12,854,189.40. This represents a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 456,869 shares of company stock worth $18,540,085 in the last quarter. 12.50% of the stock is owned by company insiders.

Braze Profile

Braze, Inc provides a cloud-based customer engagement platform that helps businesses communicate with customers through personalized, interactive experiences. Its software enables companies to use customer data to create and manage campaigns across channels such as email, mobile push notifications, in-app messages, web messaging and SMS.

The Braze platform includes tools for audience segmentation, campaign and customer-journey orchestration, personalization and performance analysis. Businesses use these capabilities to coordinate communications and adapt them based on customer behavior and preferences.

Founded in 2011 as Appboy, the company adopted the Braze name in 2017.