Engineers Gate Manager LP Has $18.71 Million Stock Holdings in Braze, Inc. $BRZE

Key Points

• Engineers Gate Manager LP increased its Braze stake by 143.6% in the fourth quarter, ending with 545,581 shares valued at about $18.7 million.
• Wall Street remains mostly positive on Braze, with 19 Buy ratings and an average target price of $35, even as several analysts trimmed their price targets.
• Braze reported quarterly earnings of $0.10 per share on revenue of $211 million, beating sales expectations and posting 30.2% year-over-year revenue growth.

Engineers Gate Manager LP lifted its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 143.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,581 shares of the company's stock after acquiring an additional 321,595 shares during the period. Engineers Gate Manager LP owned approximately 0.49% of Braze worth $18,708,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Clearstead Advisors LLC raised its position in shares of Braze by 58.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,685 shares of the company's stock valued at $48,000 after acquiring an additional 620 shares during the period. Rhumbline Advisers raised its position in shares of Braze by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 112,638 shares of the company's stock valued at $3,203,000 after acquiring an additional 638 shares during the period. Arizona State Retirement System raised its position in shares of Braze by 3.2% in the 4th quarter. Arizona State Retirement System now owns 22,437 shares of the company's stock valued at $769,000 after acquiring an additional 688 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Braze by 7.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 11,080 shares of the company's stock valued at $315,000 after acquiring an additional 746 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of Braze in the 4th quarter valued at approximately $27,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on BRZE shares. Oppenheimer dropped their target price on shares of Braze from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Wednesday, March 25th. Canaccord Genuity Group dropped their target price on shares of Braze from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, May 28th. Cantor Fitzgerald restated an "overweight" rating and set a $38.00 target price on shares of Braze in a report on Thursday, May 28th. DA Davidson restated a "buy" rating and set a $33.00 target price on shares of Braze in a report on Thursday, May 28th. Finally, BTIG Research restated a "buy" rating and set a $30.00 target price on shares of Braze in a report on Tuesday, May 26th. Nineteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Braze has an average rating of "Moderate Buy" and an average target price of $35.00.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 35,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $20.29, for a total transaction of $710,150.00. Following the completion of the transaction, the general counsel directly owned 209,424 shares of the company's stock, valued at $4,249,212.96. This trade represents a 14.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.50% of the stock is owned by corporate insiders.

Braze Stock Performance

Shares of BRZE stock opened at $20.17 on Thursday. The company has a market capitalization of $2.27 billion, a P/E ratio of -18.01 and a beta of 0.83. Braze, Inc. has a 52 week low of $15.26 and a 52 week high of $37.33. The company's 50 day moving average price is $22.51 and its two-hundred day moving average price is $24.02.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $211.00 million during the quarter, compared to analysts' expectations of $205.19 million. Braze had a negative net margin of 15.51% and a negative return on equity of 17.52%. The business's quarterly revenue was up 30.2% on a year-over-year basis. During the same period last year, the business earned $0.07 EPS. Braze has set its Q2 2027 guidance at 0.150-0.160 EPS. Analysts forecast that Braze, Inc. will post -0.76 earnings per share for the current year.

Braze Company Profile

Braze, Inc is a publicly traded software company NASDAQ: BRZE that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze's platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.

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