Quarry LP Invests $50,000 in Braze, Inc. (NASDAQ:BRZE)

Quarry LP acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,286 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds have also recently bought and sold shares of BRZE. US Bancorp DE grew its position in shares of Braze by 2,518.1% in the fourth quarter. US Bancorp DE now owns 11,729 shares of the company’s stock valued at $623,000 after purchasing an additional 11,281 shares during the period. CenterBook Partners LP acquired a new position in shares of Braze in the 4th quarter valued at $453,000. Seven Eight Capital LP boosted its holdings in shares of Braze by 251.4% in the 4th quarter. Seven Eight Capital LP now owns 21,297 shares of the company’s stock valued at $1,132,000 after purchasing an additional 15,237 shares during the last quarter. Penn Mutual Asset Management LLC purchased a new stake in shares of Braze during the 4th quarter valued at $576,000. Finally, Newlands Management Operations LLC increased its holdings in shares of Braze by 33.3% during the 4th quarter. Newlands Management Operations LLC now owns 21,116 shares of the company’s stock worth $1,122,000 after buying an additional 5,279 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Stock Up 1.6 %

Shares of NASDAQ BRZE opened at $31.08 on Friday. Braze, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $61.53. The business has a 50 day moving average price of $39.08 and a two-hundred day moving average price of $40.26. The firm has a market cap of $3.16 billion, a PE ratio of -24.28 and a beta of 1.03.

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

Insider Transactions at Braze

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $32.12, for a total transaction of $144,540.00. Following the sale, the chief financial officer now owns 216,208 shares in the company, valued at $6,944,600.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total transaction of $144,540.00. Following the completion of the sale, the chief financial officer now owns 216,208 shares in the company, valued at $6,944,600.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Pankaj Malik sold 1,381 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total transaction of $56,786.72. Following the sale, the chief accounting officer now directly owns 72,980 shares in the company, valued at $3,000,937.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,465 shares of company stock valued at $8,023,190. Insiders own 24.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BRZE. JMP Securities restated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Raymond James cut their price target on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, June 7th. UBS Group decreased their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Finally, Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Eighteen analysts have rated the stock with a buy rating, According to MarketBeat, Braze currently has an average rating of “Buy” and a consensus price target of $59.18.

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.