Seven Eight Capital LP Raises Share Holdings in Braze, Inc. (NASDAQ:BRZE)

VaselineSeptember 19, 2024

0 4 minutes read

Seven Eight Capital LP grew its position in Braze, Inc. (NASDAQ:BRZE – Free Report) 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 added to or reduced their stakes in the business. 1832 Asset Management LP boosted its holdings in shares of Braze by 537.4% during the fourth quarter. 1832 Asset Management LP now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after buying an additional 1,287,500 shares during 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 in the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Braze in the second quarter valued at about $7,349,000. Finally, Industry Ventures LLC purchased a new position in shares of Braze during the second quarter valued at about $7,332,000. 90.47% of shares are held 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 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 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 via 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 via 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 shares are owned by insiders.

Braze price performance

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Shares of BRZE 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 cap 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 – Get Your Free Report ) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping 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. In the same quarter last year, the company posted earnings per share of ($0.30). 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. to post -1.05 earnings per share for the current fiscal year.

Analysts set new price targets

BRZE has been the subject 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 cut their price target 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 target price 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 boosted their target price for the company from $48.00 to $56.00 in a a research report on Wednesday, July 10. 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 target price of $60.50.

Read our latest report on BRZE

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 provide mobile and web notifications, in-app/in-browser interstitial messages and content cards; REST API that can be used to import or export data or trigger workflows between Braze and brands’ existing technology stacks; Partner data integration, which allows brands to synchronize user cohorts from partners; Data Transformation, where brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion, which enables brands to leverage their customer data.