Pathway Capital Management LP Acquires Shares of 64,370 Braze, Inc. $BRZE

Key Points

• Pathway Capital Management opened a new position in Braze, buying 64,370 shares valued at about $2.21 million, and made BRZE its largest holding at 28.3% of its portfolio.
• Braze shares were down 7.1% to $19.26, even after the company reported quarterly revenue of $205.17 million, which beat estimates and rose 27.9% year over year.
• Analysts remain mostly bullish despite recent target cuts: 22 analysts rate the stock Buy, with an average price target of $36.90, while insiders have been selling shares in recent months.

Pathway Capital Management LP acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 64,370 shares of the company's stock, valued at approximately $2,207,000. Braze comprises about 28.3% of Pathway Capital Management LP's investment portfolio, making the stock its largest position. Pathway Capital Management LP owned 0.06% of Braze as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in BRZE. NBC Securities Inc. bought a new position in shares of Braze in the 4th quarter valued at about $27,000. Osaic Holdings Inc. increased its position in shares of Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company's stock worth $44,000 after acquiring an additional 1,404 shares during the period. Quarry LP purchased a new position in shares of Braze during the third quarter worth approximately $46,000. Clearstead Advisors LLC increased its position in shares of Braze by 58.2% during the third quarter. Clearstead Advisors LLC now owns 1,685 shares of the company's stock worth $48,000 after acquiring an additional 620 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in shares of Braze by 34.3% during the third quarter. SBI Securities Co. Ltd. now owns 1,843 shares of the company's stock worth $52,000 after acquiring an additional 471 shares during the period. Institutional investors own 90.47% of the company's stock.

Braze Stock Down 7.1%

Shares of NASDAQ BRZE opened at $19.26 on Wednesday. The firm has a market cap of $2.19 billion, a P/E ratio of -15.79 and a beta of 0.78. The business's 50 day moving average price is $21.30 and its 200 day moving average price is $24.94. Braze, Inc. has a 52 week low of $15.26 and a 52 week high of $37.67.

Braze (NASDAQ:BRZE - Get Free Report) last posted its earnings results on Tuesday, March 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). The business had revenue of $205.17 million for the quarter, compared to analyst estimates of $198.23 million. Braze had a negative net margin of 17.78% and a negative return on equity of 18.75%. The company's revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 earnings per share. As a group, research analysts expect that Braze, Inc. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Braze

In other Braze news, insider Astha Malik sold 14,049 shares of Braze stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $237,849.57. Following the completion of the transaction, the insider owned 205,289 shares in the company, valued at approximately $3,475,542.77. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 35,000 shares of Braze stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $20.29, for a total value of $710,150.00. Following the transaction, the general counsel owned 209,424 shares of the company's stock, valued at $4,249,212.96. The trade was a 14.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 95,676 shares of company stock worth $1,737,811. Insiders own 18.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Oppenheimer cut their price objective 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Braze in a research report on Wednesday, March 25th. TD Cowen decreased their price objective on shares of Braze from $43.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 20th. Mizuho decreased their price objective on shares of Braze from $50.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group lowered their price objective on shares of Braze from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th. Twenty-two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $36.90.

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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