Mercer Global Advisors Inc. ADV Boosts Stake in Braze, Inc. (NASDAQ:BRZE)

Mercer Global Advisors Inc. ADV increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 2.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,340 shares of the company’s stock after acquiring an additional 316 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Braze were worth $559,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 405 shares during the period. Aster Capital Management DIFC Ltd raised its position in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after purchasing an additional 827 shares during the period. EverSource Wealth Advisors LLC raised its position in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after purchasing an additional 928 shares during the period. SBI Securities Co. Ltd. purchased a new position in Braze in the 4th quarter worth $47,000. Finally, Plato Investment Management Ltd purchased a new position in Braze in the 4th quarter worth $115,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Trading Up 7.3%

Shares of BRZE opened at $36.14 on Tuesday. The firm’s 50-day moving average price is $32.85 and its 200-day moving average price is $37.79. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -31.70 and a beta of 1.15. Braze, Inc. has a 1-year low of $27.45 and a 1-year high of $48.33.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, research analysts forecast that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on BRZE. Raymond James lifted their target price on shares of Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, March 28th. Stephens started coverage on shares of Braze in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price on the stock. Piper Sandler cut their price target on shares of Braze from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a “buy” rating in a report on Friday, March 28th. Finally, Wells Fargo & Company cut their price target on shares of Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $51.25.

Insider Buying and Selling

In related news, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the sale, the chief executive officer now owns 564,766 shares of the company’s stock, valued at $23,053,748.12. The trade was a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Susan Wiseman sold 4,167 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the sale, the general counsel now directly owns 248,999 shares in the company, valued at $7,713,989.02. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,937 shares of company stock valued at $2,235,381 over the last quarter. Corporate insiders own 24.03% of the company’s stock.

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.