M&G Plc Invests $6.72 Million in Braze, Inc. (NASDAQ:BRZE)

M&G Plc acquired a new position in Braze, Inc. (NASDAQ:BRZE) in the first quarter, HoldingsChannel reports. The institutional investor acquired 152,817 shares of the company’s stock, valued at approximately $6,724,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Braze by 2.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,831 shares of the company’s stock worth $1,266,000 after purchasing an additional 588 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Braze in the fourth quarter worth $40,000. Canton Hathaway LLC purchased a new stake in shares of Braze in the fourth quarter worth $42,000. Oppenheimer Asset Management Inc. increased its stake in shares of Braze by 15.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,938 shares of the company’s stock worth $307,000 after purchasing an additional 923 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Braze by 0.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock worth $13,406,000 after acquiring an additional 984 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. BTIG Research dropped their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, May 31st. TD Cowen dropped their target price on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Piper Sandler dropped their target price on shares of Braze from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Seventeen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $61.13.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 5,496 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $42.00, for a total value of $230,832.00. Following the completion of the sale, the general counsel now owns 221,840 shares in the company, valued at approximately $9,317,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Susan Wiseman sold 5,496 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $42.00, for a total value of $230,832.00. Following the transaction, the general counsel now owns 221,840 shares of the company’s stock, valued at approximately $9,317,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $40.93, for a total transaction of $184,185.00. Following the completion of the transaction, the chief financial officer now directly owns 258,681 shares in the company, valued at approximately $10,587,813.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,085 shares of company stock worth $3,257,592. 24.03% of the stock is currently owned by insiders.

Braze Price Performance

Shares of Braze stock traded up $0.03 during trading on Friday, hitting $40.11. The stock had a trading volume of 754,363 shares, compared to its average volume of 1,189,563. The firm’s fifty day simple moving average is $38.72 and its 200-day simple moving average is $46.03. The stock has a market cap of $4.08 billion, a PE ratio of -31.34 and a beta of 1.06. Braze, Inc. has a 12 month low of $33.93 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.01. The firm had revenue of $135.46 million during the quarter, compared to analyst estimates of $131.56 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. Analysts expect that Braze, Inc. will post -1.21 earnings per share 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.