JPMorgan Chase & Co. Acquires 500,667 Shares of Braze, Inc. (NASDAQ:BRZE)

JPMorgan Chase & Co. boosted its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 27.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,309,244 shares of the company’s stock after purchasing an additional 500,667 shares during the quarter. JPMorgan Chase & Co. owned about 2.23% of Braze worth $96,711,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BRZE. Vanguard Group Inc. grew its stake in Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after buying an additional 1,476,423 shares during the last quarter. State Street Corp boosted its holdings in shares of Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after acquiring an additional 279,050 shares during the period. Geode Capital Management LLC grew its position in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after purchasing an additional 229,660 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Braze during the 3rd quarter worth approximately $7,294,000. Finally, Stephens Investment Management Group LLC boosted its stake in Braze by 20.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock valued at $32,343,000 after purchasing an additional 129,298 shares during the period. 90.47% of the stock is owned by institutional investors.

Braze Stock Down 0.2 %

Shares of BRZE stock opened at $36.30 on Thursday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $48.33. The stock’s fifty day simple moving average is $39.16 and its 200 day simple moving average is $38.04. The firm has a market capitalization of $3.76 billion, a P/E ratio of -31.84 and a beta of 1.17.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. The company had revenue of $160.40 million for the quarter, compared to analysts’ expectations of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) earnings per share. As a group, equities research analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the transaction, the director now owns 15,269 shares in the company, valued at approximately $633,052.74. The trade was a 8.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Susan Wiseman sold 14,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.52, for a total transaction of $637,280.00. Following the sale, the general counsel now owns 199,520 shares of the company’s stock, valued at approximately $9,082,150.40. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,970 shares of company stock worth $3,904,111. Company insiders own 24.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BRZE shares. Oppenheimer reiterated an “outperform” rating and set a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. Citigroup raised their price target on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Raymond James boosted their price objective on shares of Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, March 28th. Piper Sandler increased their target price on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group lifted their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.00.

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.