Federated Hermes Inc. Has $26.78 Million Stake in Braze, Inc. (NASDAQ:BRZE)

Federated Hermes Inc. lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZEFree Report) by 90.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,994 shares of the company’s stock after purchasing an additional 239,742 shares during the quarter. Federated Hermes Inc. owned 0.50% of Braze worth $26,777,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in Braze during the 1st quarter worth approximately $370,000. Bank of Montreal Can boosted its holdings in shares of Braze by 81.7% in the first quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock valued at $4,645,000 after buying an additional 46,591 shares during the period. BlackRock Inc. increased its position in shares of Braze by 2,301.3% during the first quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock worth $5,111,000 after acquiring an additional 118,101 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Braze by 8.7% during the first quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock worth $424,000 after acquiring an additional 820 shares during the period. Finally, Vanguard Group Inc. lifted its position in Braze by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock valued at $28,860,000 after acquiring an additional 124,741 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Trading Down 0.8 %

Shares of NASDAQ BRZE opened at $38.94 on Friday. The company has a market capitalization of $3.93 billion, a P/E ratio of -29.28 and a beta of 1.13. Braze, Inc. has a 12 month low of $25.76 and a 12 month high of $61.53. The stock has a 50 day moving average of $50.39 and a 200-day moving average of $50.75.

Braze (NASDAQ:BRZEGet Free Report) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. The firm had revenue of $130.96 million during the quarter, compared to analysts’ expectations of $124.55 million. Analysts predict that Braze, Inc. will post -1.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BRZE shares. Scotiabank lowered their target price on Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday, March 28th. Raymond James dropped their target price on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. TD Cowen reduced their price target on Braze from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their price target on shares of Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, March 28th. Finally, UBS Group raised shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.29.

Get Our Latest Research Report on BRZE

Insider Activity at Braze

In other Braze news, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now directly owns 244,291 shares in the company, valued at $13,914,815.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now owns 244,291 shares of the company’s stock, valued at $13,914,815.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $59.91, for a total transaction of $89,865.00. Following the completion of the transaction, the director now owns 11,056 shares in the company, valued at $662,364.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,815 shares of company stock worth $4,164,679. Insiders own 26.48% of the company’s stock.

Braze Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Braze (NASDAQ:BRZE)

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