Braze, Inc. $BRZE is Battery Management CORP.'s 3rd Largest Position

Key Points

• Battery Management CORP. reduced its stake in Braze, Inc. by 14.2% during the first quarter, now holding approximately 1.36% of the company, valued at $51.4 million.
• Braze recently reported earnings of $0.07 per share, exceeding analysts' expectations and demonstrating a 19.6% year-over-year revenue increase.
• Insider transactions include sales by both the CTO and CEO, with total insider sales of 72,354 shares worth approximately $1.91 million in the past ninety days.

Battery Management CORP. reduced its position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 14.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,425,000 shares of the company's stock after selling 235,129 shares during the quarter. Braze makes up about 7.5% of Battery Management CORP.'s holdings, making the stock its 3rd biggest holding. Battery Management CORP. owned about 1.36% of Braze worth $51,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after buying an additional 405 shares during the last quarter. GAMMA Investing LLC raised its holdings in Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after buying an additional 517 shares during the last quarter. Quarry LP raised its holdings in Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after buying an additional 595 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Braze during the 1st quarter valued at $36,000. Finally, Versant Capital Management Inc bought a new stake in Braze during the 1st quarter valued at $54,000. 90.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 4,988 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $129,388.72. Following the transaction, the general counsel owned 234,667 shares in the company, valued at $6,087,261.98. This represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Astha Malik sold 13,049 shares of the 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 $338,491.06. Following the completion of the transaction, the insider owned 236,930 shares in the company, valued at $6,145,964.20. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,354 shares of company stock worth $1,914,998. 18.20% of the stock is owned by company insiders.

Braze Stock Up 3.4%

BRZE traded up $1.07 during midday trading on Monday, hitting $32.49. 1,461,764 shares of the company traded hands, compared to its average volume of 1,435,796. The firm has a market capitalization of $3.43 billion, a PE ratio of -31.20 and a beta of 1.10. The company's 50-day moving average is $27.32 and its 200 day moving average is $30.98. Braze, Inc. has a 52 week low of $23.91 and a 52 week high of $48.33.

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

Wall Street Analyst Weigh In

BRZE has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Braze from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Friday. UBS Group reduced their price objective on shares of Braze from $48.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday. DA Davidson reaffirmed a "buy" rating and issued a $40.00 target price on shares of Braze in a research report on Friday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $43.00 target price on shares of Braze in a research report on Friday. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $68.00 target price on shares of Braze in a research report on Friday. Twenty research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.10.

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.