Seven Eight Capital LP Boosts Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Seven Eight Capital LP increased its position in Braze, Inc. (NASDAQ:BRZE) by 78.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,283 shares of the company’s stock after acquiring an additional 20,741 shares during the period. Seven Eight Capital LP’s holdings in Braze were worth $1,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. 1832 Asset Management L.P. lifted its holdings in shares of Braze by 537.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after purchasing an additional 1,287,500 shares in the last quarter. Norges Bank bought a new position in Braze during the 4th quarter valued at about $37,584,000. Vanguard Group Inc. boosted its holdings in shares of Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Braze in the second quarter worth approximately $7,349,000. Finally, Industry Ventures L.L.C. purchased a new position in shares of Braze during the second quarter valued at approximately $7,332,000. 90.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the transaction, the general counsel now directly owns 206,930 shares in the company, valued at approximately $9,104,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $38.14, for a total value of $86,272.68. Following the sale, the chief accounting officer now directly owns 74,361 shares in the company, valued at approximately $2,836,128.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The disclosure for this sale can be found here. Insiders sold 191,345 shares of company stock worth $8,232,925 in the last quarter. 24.03% of the stock is owned by corporate insiders.

Braze Price Performance

Shares of BRZE stock opened at $34.99 on Thursday. The company’s fifty day moving average price is $40.64 and its 200-day moving average price is $41.74. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -27.34 and a beta of 1.07. Braze, Inc. has a one year low of $33.24 and a one year high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) 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 firm had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter last year, the business posted ($0.30) earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. Equities research analysts expect that Braze, Inc. will post -1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BRZE has been the topic of several research reports. Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Raymond James cut their price objective on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. BTIG Research lowered their target price on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 31st. DA Davidson restated a “buy” rating and set a $65.00 price target on shares of Braze in a research note on Friday, September 6th. Finally, Scotiabank raised shares of Braze from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $60.50.

Braze 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.