
B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Braze, Inc. ( NASDAQ:BRZE – Free Report ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 54,003 shares of the company’s stock, valued at approximately $1,746,000. A number of other hedge funds have also added to or reduced their stakes in the stock. KBC Group NV increased its stake in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Braze by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after purchasing an additional 19,567 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Braze by 14.4% in the 3rd quarter. WCM Investment Management LLC now owns 398,022 shares of the company’s stock worth $13,222,000 after purchasing an additional 50,113 shares in the last quarter. Assetmark Inc. increased its stake in shares of Braze by 7.6% in the 3rd quarter. Assetmark Inc. now owns 27,181 shares of the company’s stock worth $879,000 after purchasing an additional 1,923 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in shares of Braze in the 3rd quarter worth $1,122,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors. Analyst Upgrades and Downgrades Several research firms have recently commented on BRZE. Oppenheimer reduced their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. DA Davidson reduced their price objective on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. UBS Group dropped their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Piper Sandler dropped their target price on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.47. Insider Buying and Selling In related news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction dated 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 sale, the insider now directly owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This represents a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink . Also, insider Myles Kleeger sold 50,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the completion of the sale, the insider now directly owns 199,963 shares in the company, valued at $9,128,310.95. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders have sold 190,479 shares of company stock valued at $7,148,911 in the last ninety days. 24.03% of the stock is owned by company insiders. Braze Trading Up 1.9 % Shares of NASDAQ:BRZE opened at $38.71 on Friday. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53. The company has a 50-day moving average price of $32.92 and a 200 day moving average price of $37.48. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -32.80 and a beta of 1.03. Braze ( NASDAQ:BRZE – Get Free Report ) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same quarter last year, the firm earned ($0.30) EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, equities analysts forecast that Braze, Inc. will post -1.02 EPS for the current year. 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. Featured Stories Want to see what other hedge funds are holding BRZE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Braze, Inc. ( NASDAQ:BRZE – Free Report ). 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WASHINGTON — WWE will perform on a stage next month that could be vastly larger than its current home on cable television when “Raw,” its weekly live show, makes its debut on Netflix. The sports entertainment company is moving to a platform with about 283 million subscribers worldwide as it departs its current home on the USA Network, which averaged 688,000 viewers in prime time last year, according to the Nielsen company. For Netflix, onboarding the WWE is part of a strategic move to air more live events on the heels of a hugely successful fight between Mike Tyson and Jake Paul that was viewed by more than 60 million people. “Raw” has been averaging about 1.5 million viewers on USA Network over the past month, according to Nielsen. WWE has produced thousands of episodes of “Raw,” since its debut in 1993, with star performers like Seth Rollins, CM Punk and Rhea Ripley. “Raw” and the media rights that come with it, had become a hot commodity before WWE reached a deal worth more than $5 billion with Netflix. In addition to a larger pool of potential viewers, moving to Netflix means the WWE won't have to worry as much about curse words getting muted or potentially gory scenes or risque or obscene gestures being blurred. And as it has done throughout its history, WWE has promoted the shift to Netflix across different platforms as it seeks to expand its audience. During a Travis Scott concert last month, former professional wrestler and now WWE chief content officer Paul “Triple H” Levesque told attendees from the stage that one of the rapper’s song will be the new ”Raw” theme song, and that Scott will appear on the first episode on Netflix on January 6. WWE has consistently managed to put itself before new and sometimes massive audiences, including the Super Bowl. After defeating the Philadelphia Eagles in Super Bowl LVII two years ago, Kansas City Chiefs quarterback and MVP Patrick Mahomes posted a photo of himself on Twitter holding the Vince Lombardi trophy in one hand, and a WWE belt in the other . Netflix sees huge potential in live entertainment in addition to its traditional lineup. “The contributor to growing engagement is going to be across the board on our scripted and unscripted, our documentary programming, all the kinds of things that people love, including now the addition of some live hours,” Netflix co-CEO Theodore Sarandos said after the company’s most recent quarterly earnings report. Aside from its deal with WWE, the company announced in May that it will stream two National Football League games globally on Christmas Day as part of a three-year deal with the league. That live programming will be an important part of Netflix’s strategy going forward, said JPMorgan analyst Doug Anmuth. “Netflix is increasingly focused on sports entertainment, events, and shoulder content and we expect a bigger push into live sports over time, particularly as negotiating leverage shifts in Netflix’s direction,” he wrote in an analyst note last month.
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