ShawSpring Partners LLC Buys New Position in Braze, Inc. (NASDAQ:BRZE)

ShawSpring Partners LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,500,413 shares of the company's stock, valued at approximately $62,837,000. Braze comprises about 8.3% of ShawSpring Partners LLC's portfolio, making the stock its 8th largest position. ShawSpring Partners LLC owned approximately 1.45% of Braze at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its position in Braze by 3.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company's stock valued at $453,000 after buying an additional 346 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after purchasing an additional 827 shares during the period. KBC Group NV grew its stake in Braze by 39.7% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $123,000 after purchasing an additional 832 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after purchasing an additional 928 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Braze in the 4th quarter valued at about $47,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Stock Down 4.9 %

NASDAQ BRZE traded down $1.44 during trading hours on Monday, hitting $27.77. 230,215 shares of the stock were exchanged, compared to its average volume of 1,225,220. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -24.36 and a beta of 1.13. Braze, Inc. has a 12-month low of $27.51 and a 12-month high of $48.33. The stock has a 50-day moving average of $35.24 and a 200 day moving average of $37.70.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities research analysts expect that Braze, Inc. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, March 28th. Citigroup lifted their price objective on shares of Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Raymond James lifted their price target on Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Braze in a research note on Friday, March 28th. Finally, DA Davidson dropped their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $52.50.

Insider Activity at Braze

In other Braze news, General Counsel Susan Wiseman sold 10,000 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the transaction, the general counsel now directly owns 189,520 shares in the company, valued at approximately $8,949,134.40. This trade represents a 5.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total transaction of $61,950.00. Following the transaction, the director now directly owns 15,269 shares of the company's stock, valued at approximately $630,609.70. This trade represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,937 shares of company stock worth $2,707,581 over the last 90 days. Company insiders own 24.03% of the company's stock.

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.