Braze, Inc. (NASDAQ:BRZE) Shares Sold by Canton Hathaway LLC

Canton Hathaway LLC lowered its stake in Braze, Inc. (NASDAQ:BRZE) by 41.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,153 shares of the company’s stock after selling 826 shares during the period. Canton Hathaway LLC’s holdings in Braze were worth $37,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of BRZE. Stephens Investment Management Group LLC acquired a new position in shares of Braze in the 3rd quarter worth $20,794,000. Granite Investment Partners LLC purchased a new position in Braze in the 2nd quarter worth about $12,925,000. Point72 Asset Management L.P. acquired a new stake in Braze during the 2nd quarter worth about $10,166,000. Peregrine Capital Management LLC purchased a new stake in Braze during the second quarter valued at about $7,349,000. Finally, Industry Ventures L.L.C. acquired a new position in shares of Braze in the second quarter worth about $7,332,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Buying and Selling

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fernando Machado sold 1,377 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 130,479 shares of company stock valued at $4,414,911. Company insiders own 24.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BRZE shares. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Braze in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Piper Sandler decreased their target price on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Oppenheimer reduced their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. Finally, Stifel Nicolaus began coverage on Braze in a report on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 target price on the stock. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Braze has an average rating of “Moderate Buy” and a consensus target price of $54.47.

Braze Price Performance

NASDAQ BRZE opened at $38.66 on Monday. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The stock’s 50-day moving average is $32.99 and its two-hundred day moving average is $37.40. The firm has a market cap of $3.97 billion, a P/E ratio of -32.80 and a beta of 1.03.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share 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 the consensus estimate of $141.32 million. During the same period last year, the business earned ($0.30) EPS. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, equities analysts expect that Braze, Inc. will post -1.02 EPS for the current 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.