Paloma Partners Management Co Has $722,000 Holdings in Braze, Inc. $BRZE

Key Points

• Paloma Partners Management Co has significantly reduced its stake in Braze, Inc., selling 103,724 shares and now holding only 20,000 shares, worth approximately $722,000.
• Several institutional investors have boosted their stakes in Braze, with Westfield Capital and Fuller & Thaler investing over $50 million each during the 1st quarter.
• Braze reported improved earnings with $0.07 EPS for the last quarter, exceeding analyst expectations and marking a 19.6% year-over-year revenue increase, up to $162.06 million.

Paloma Partners Management Co cut its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 83.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the company's stock after selling 103,724 shares during the quarter. Paloma Partners Management Co's holdings in Braze were worth $722,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares during the last quarter. GAMMA Investing LLC raised its position in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after purchasing an additional 517 shares during the last quarter. Quarry LP raised its position in Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after purchasing an additional 595 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Braze in the first quarter valued at about $36,000. Finally, Versant Capital Management Inc bought a new position in Braze in the first quarter valued at about $54,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Braze

In related news, CTO Jonathan Hyman sold 8,918 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $231,332.92. Following the completion of the sale, the chief technology officer owned 205,106 shares of the company's stock, valued at $5,320,449.64. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 4,943 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $25.14, for a total value of $124,267.02. Following the sale, the general counsel directly owned 229,724 shares of the company's stock, valued at $5,775,261.36. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,354 shares of company stock valued at $1,914,998 over the last ninety days. Insiders own 18.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on BRZE. Macquarie dropped their target price on Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. JPMorgan Chase & Co. dropped their target price on Braze from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, June 6th. UBS Group lowered their price objective on Braze from $48.00 to $43.00 and set a "buy" rating for the company in a research report on Friday. Loop Capital lowered their price objective on Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, DA Davidson restated a "buy" rating and set a $40.00 price objective on shares of Braze in a research report on Friday. Twenty equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.85.

Braze Stock Performance

Shares of BRZE traded up $3.76 during mid-day trading on Friday, reaching $31.42. 10,815,739 shares of the company were exchanged, compared to its average volume of 1,379,870. The business has a 50 day simple moving average of $27.32 and a two-hundred day simple moving average of $31.11. Braze, Inc. has a 52 week low of $23.91 and a 52 week high of $48.33. The stock has a market capitalization of $3.32 billion, a PE ratio of -30.21 and a beta of 1.10.

Braze (NASDAQ:BRZE - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 19.21% and a negative net margin of 16.62%.The business had revenue of $162.06 million during the quarter, compared to analysts' expectations of $158.60 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The firm's revenue was up 19.6% on a year-over-year basis. On average, analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Braze Company 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.