ShawSpring Partners LLC Lowers Holdings in Braze, Inc. $BRZE

ShawSpring Partners LLC decreased its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 26.6% during the third quarter, HoldingsChannel reports. The fund owned 1,848,244 shares of the company’s stock after selling 671,356 shares during the quarter. Braze comprises about 7.8% of ShawSpring Partners LLC’s investment portfolio, making the stock its 7th biggest holding. ShawSpring Partners LLC’s holdings in Braze were worth $52,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BRZE. SBI Securities Co. Ltd. increased its holdings in shares of Braze by 173.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock valued at $39,000 after purchasing an additional 870 shares during the period. Osaic Holdings Inc. grew its stake in shares of Braze by 821.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after purchasing an additional 1,404 shares during the period. Clearstead Advisors LLC grew its holdings 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 buying an additional 620 shares in the last quarter. Covestor Ltd raised its stake in Braze by 35.7% during the third quarter. Covestor Ltd now owns 2,894 shares of the company’s stock worth $82,000 after acquiring an additional 761 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Braze in the third quarter worth about $119,000. Institutional investors own 90.47% of the company’s stock.

Braze Stock Down 1.4%

NASDAQ:BRZE opened at $18.58 on Friday. Braze, Inc. has a 1-year low of $15.26 and a 1-year high of $43.89. The stock has a fifty day simple moving average of $21.89 and a 200 day simple moving average of $27.06. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -16.89 and a beta of 1.08.

Braze (NASDAQ:BRZE) last released its earnings results on Tuesday, December 9th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $190.84 million during the quarter, compared to the consensus estimate of $198.25 million. Braze had a negative return on equity of 17.87% and a negative net margin of 16.85%.The company’s revenue was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. Equities analysts predict that Braze, Inc. will post -0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays lifted their target price on shares of Braze from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price objective on shares of Braze in a research note on Wednesday, December 10th. BTIG Research started coverage on shares of Braze in a report on Tuesday, December 16th. They issued a “buy” rating and a $45.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on shares of Braze from $55.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Finally, DA Davidson increased their price objective on Braze from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.65.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 5,540 shares of Braze stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $35.76, for a total value of $198,110.40. Following the completion of the transaction, the chief accounting officer directly owned 53,572 shares in the company, valued at approximately $1,915,734.72. The trade was a 9.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jonathan Hyman sold 7,391 shares of Braze stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $125,129.63. Following the sale, the chief technology officer directly owned 1,692,933 shares of the company’s stock, valued at $28,661,355.69. This represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 66,216 shares of company stock valued at $1,225,772 over the last three months. Insiders own 18.20% of the company’s stock.

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.