Northside Capital Management LLC Buys Shares of 8,697 Braze, Inc. (NASDAQ:BRZE)

Northside Capital Management LLC bought a new position in Braze, Inc. (NASDAQ:BRZE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,697 shares of the company’s stock, valued at approximately $281,000.

Several other large investors also recently made changes to their positions in BRZE. Vanguard Group Inc. increased its position in Braze by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares during the period. Granite Investment Partners LLC acquired a new position in shares of Braze during the second quarter valued at $12,925,000. Point72 Asset Management L.P. bought a new stake in shares of Braze during the second quarter valued at about $10,166,000. Peregrine Capital Management LLC acquired a new stake in Braze in the second quarter worth about $7,349,000. Finally, Industry Ventures L.L.C. bought a new position in Braze in the 2nd quarter valued at about $7,332,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Stock Performance

Shares of Braze stock traded down $0.01 during trading on Friday, hitting $30.25. 1,116,253 shares of the stock traded hands, compared to its average volume of 1,030,496. The company has a fifty day moving average price of $36.90 and a two-hundred day moving average price of $38.82. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The stock has a market cap of $3.07 billion, a P/E ratio of -23.63 and a beta of 1.03.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.30) EPS. On average, equities research analysts expect that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on BRZE. UBS Group dropped their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $48.00 to $56.00 in a report on Wednesday, July 10th. TD Cowen decreased their price target on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Finally, 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 note on Thursday, October 10th. Eighteen analysts have rated the stock with a buy rating, According to MarketBeat, Braze currently has a consensus rating of “Buy” and a consensus price target of $58.53.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 7,079 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $42.18, for a total value of $298,592.22. Following the completion of the sale, the general counsel now directly owns 221,840 shares in the company, valued at approximately $9,357,211.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 7,079 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $42.18, for a total transaction of $298,592.22. Following the completion of the sale, the general counsel now owns 221,840 shares in the company, valued at $9,357,211.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,737 shares of company stock valued at $9,301,358 over the last 90 days. 24.03% of the stock is currently owned by company insiders.

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.