GAMMA Investing LLC Grows Position in Braze, Inc. (NASDAQ:BRZE)

GAMMA Investing LLC boosted its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 12,025.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 26,555 shares of the company's stock after purchasing an additional 26,336 shares during the period. GAMMA Investing LLC's holdings in Braze were worth $958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in shares of Braze in the fourth quarter valued at approximately $498,000. Thrivent Financial for Lutherans purchased a new position in Braze in the fourth quarter worth $708,000. Pictet Asset Management Holding SA grew its stake in Braze by 27.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock valued at $374,000 after purchasing an additional 1,938 shares during the period. KLP Kapitalforvaltning AS bought a new position in Braze in the 4th quarter valued at $549,000. Finally, Swiss National Bank increased its position in shares of Braze by 7.1% during the 4th quarter. Swiss National Bank now owns 121,600 shares of the company's stock valued at $5,093,000 after purchasing an additional 8,100 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company's stock.

Insider Transactions at Braze

In other Braze news, CEO William Magnuson sold 25,089 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $900,193.32. Following the transaction, the chief executive officer now directly owns 745,769 shares in the company, valued at $26,758,191.72. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Susan Wiseman sold 4,167 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $30.98, for a total transaction of $129,093.66. Following the transaction, the general counsel now directly owns 248,999 shares in the company, valued at approximately $7,713,989.02. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,150 shares of company stock valued at $2,540,814. Insiders own 18.20% of the company's stock.

Braze Stock Performance

Braze stock traded down $1.15 during midday trading on Friday, hitting $25.67. 2,429,053 shares of the company's stock were exchanged, compared to its average volume of 1,348,780. The company has a market cap of $2.71 billion, a P/E ratio of -25.42 and a beta of 1.22. The stock has a 50-day moving average price of $32.10 and a two-hundred day moving average price of $37.31. Braze, Inc. has a 52-week low of $25.22 and a 52-week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $162.06 million during the quarter, compared to analyst estimates of $158.60 million. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. Braze's revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts expect that Braze, Inc. will post -0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

BRZE has been the topic of a number of research analyst reports. Oppenheimer cut their price target on shares of Braze from $51.00 to $44.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Canaccord Genuity Group raised their target price on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Loop Capital lowered their target price on Braze from $75.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Raymond James Financial cut their price target on Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Finally, Piper Sandler decreased their price objective on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.60.

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.