Vestcor Inc Raises Stock Position in Braze, Inc. $BRZE

Vestcor Inc raised its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Vestcor Inc owned approximately 0.09% of Braze worth $3,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BRZE. Barclays PLC increased its position in Braze by 443.0% during the 3rd quarter. Barclays PLC now owns 1,404,395 shares of the company’s stock valued at $39,941,000 after purchasing an additional 1,145,748 shares during the period. UBS Group AG increased its position in Braze by 421.1% during the 3rd quarter. UBS Group AG now owns 1,279,678 shares of the company’s stock valued at $36,394,000 after purchasing an additional 1,034,087 shares during the period. Battery Management CORP. increased its position in Braze by 70.2% during the 3rd quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock valued at $68,967,000 after purchasing an additional 1,000,000 shares during the period. Bank of America Corp DE increased its position in Braze by 238.2% during the 3rd quarter. Bank of America Corp DE now owns 1,351,227 shares of the company’s stock valued at $38,429,000 after purchasing an additional 951,674 shares during the period. Finally, Vanguard Group Inc. increased its position in Braze by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock valued at $337,793,000 after purchasing an additional 892,635 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BRZE. Oppenheimer reduced their price objective on shares of Braze from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Barclays upped their target price on shares of Braze from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 25th. Citigroup reduced their target price on shares of Braze from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Mizuho reduced their target price on shares of Braze from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, May 28th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of Braze in a research report on Tuesday, May 26th. Nineteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 35,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $20.29, for a total value of $710,150.00. Following the transaction, the general counsel owned 209,424 shares in the company, valued at $4,249,212.96. The trade was a 14.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.50% of the stock is currently owned by insiders.

Braze Price Performance

Shares of Braze stock opened at $22.91 on Friday. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -20.46 and a beta of 0.83. The firm’s 50-day moving average is $22.79 and its 200 day moving average is $24.38. Braze, Inc. has a 1 year low of $15.26 and a 1 year high of $37.33.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $211.00 million for the quarter, compared to analysts’ expectations of $205.19 million. Braze had a negative net margin of 15.51% and a negative return on equity of 17.52%. Braze’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. Braze has set its Q2 2027 guidance at 0.150-0.160 EPS. On average, equities analysts expect that Braze, Inc. will post -0.76 EPS for the current fiscal year.

Braze Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.