Healthcare of Ontario Pension Plan Trust Fund Has $48.32 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Healthcare of Ontario Pension Plan Trust Fund grew its position in Braze, Inc. (NASDAQ:BRZE) by 69.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,494,100 shares of the company’s stock after purchasing an additional 612,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Braze were worth $48,319,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the last quarter. Quarry LP acquired a new stake in shares of Braze in the 2nd quarter valued at approximately $50,000. Advisors Asset Management Inc. raised its position in shares of Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after acquiring an additional 290 shares during the period. Canton Hathaway LLC raised its position in shares of Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after acquiring an additional 1,187 shares during the period. Finally, KBC Group NV raised its position in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Activity at Braze

In other Braze news, General Counsel Susan Wiseman sold 8,553 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $44.31, for a total transaction of $378,983.43. Following the completion of the sale, the general counsel now owns 206,930 shares of the company’s stock, valued at $9,169,068.30. This trade represents a 3.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the sale, the director now directly owns 8,937 shares of the company’s stock, valued at $273,919.05. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,479 shares of company stock valued at $4,414,911. 24.03% of the stock is owned by corporate insiders.

Braze Stock Down 0.7 %

Shares of BRZE opened at $38.82 on Thursday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The company has a 50 day moving average of $33.14 and a 200-day moving average of $37.37. The stock has a market capitalization of $3.99 billion, a P/E ratio of -32.87 and a beta of 1.03.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period last year, the business earned ($0.30) earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. On average, sell-side analysts anticipate that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BRZE shares. JPMorgan Chase & Co. cut their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Oppenheimer cut their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. UBS Group cut 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. DA Davidson cut their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group lowered their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.95.

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.