Silvercrest Asset Management Group LLC Makes New $5.71 Million Investment in Braze, Inc. (NASDAQ:BRZE)

Silvercrest Asset Management Group LLC acquired a new position in Braze, Inc. (NASDAQ:BRZE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 128,973 shares of the company’s stock, valued at approximately $5,714,000. Silvercrest Asset Management Group LLC owned 0.13% of Braze at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AGF Management Ltd. acquired a new stake in shares of Braze in the fourth quarter worth $3,282,000. M&G Plc acquired a new stake in Braze during the first quarter valued at $6,724,000. New York State Common Retirement Fund grew its position in Braze by 814.1% during the fourth quarter. New York State Common Retirement Fund now owns 178,514 shares of the company’s stock valued at $9,484,000 after buying an additional 158,986 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Braze during the fourth quarter valued at $5,397,000. Finally, Bailard Inc. grew its position in Braze by 409.7% during the fourth quarter. Bailard Inc. now owns 48,578 shares of the company’s stock valued at $2,581,000 after buying an additional 39,048 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Trading Down 0.2 %

BRZE stock traded down $0.07 during trading on Tuesday, reaching $42.56. 233,749 shares of the stock were exchanged, compared to its average volume of 948,702. The business has a 50 day moving average price of $38.57 and a 200-day moving average price of $45.67. Braze, Inc. has a 1 year low of $33.93 and a 1 year high of $61.53. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -33.61 and a beta of 1.06.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. The company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. On average, research analysts anticipate that Braze, Inc. will post -1.21 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on BRZE shares. Raymond James dropped their price target on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, June 7th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Monday, June 17th. Canaccord Genuity Group lifted their target price on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, June 7th. TD Cowen dropped their target price on shares of Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research report on Friday, June 7th. Seventeen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $61.13.

Insider Activity

In other news, CEO William Magnuson sold 17,839 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the sale, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William Magnuson sold 17,839 shares of Braze stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the completion of the transaction, the chief executive officer now owns 618,675 shares in the company, valued at $25,835,868. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 3,833 shares of Braze stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $160,066.08. Following the completion of the transaction, the general counsel now owns 224,925 shares of the company’s stock, valued at approximately $9,392,868. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,164 shares of company stock valued at $3,556,184. Company insiders own 24.03% of the company’s stock.

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.