Seven Eight Capital LP Boosts Holdings in Braze, Inc. (NASDAQ:BRZE)

Seven Eight Capital LP increased its position in Braze, Inc. (NASDAQ:BRZE) by 24.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,542 shares of the company’s stock after purchasing an additional 5,245 shares during the quarter. Seven Eight Capital LP’s holdings in Braze were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BRZE. Neo Ivy Capital Management purchased a new position in Braze in the 4th quarter valued at about $40,000. Covestor Ltd boosted its holdings in Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Braze during the 4th quarter valued at approximately $42,000. RiverPark Advisors LLC increased its holdings in Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Braze in the 1st quarter valued at approximately $114,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Stock Performance

BRZE stock traded down $1.98 on Wednesday, reaching $38.47. The company’s stock had a trading volume of 707,144 shares, compared to its average volume of 947,504. Braze, Inc. has a 52 week low of $33.93 and a 52 week high of $61.53. The firm has a fifty day moving average of $38.65 and a two-hundred day moving average of $45.90.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.01. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The company had revenue of $135.46 million during the quarter, compared to analysts’ expectations of $131.56 million. On average, equities research analysts anticipate that Braze, Inc. will post -1.21 EPS for the current year.

Insider Activity

In related news, CTO Jonathan Hyman sold 1,000 shares of Braze stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $42.44, for a total transaction of $42,440.00. Following the transaction, the chief technology officer now directly owns 183,258 shares of the company’s stock, valued at $7,777,469.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Pankaj Malik sold 1,381 shares of Braze stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total value of $56,786.72. Following the transaction, the chief accounting officer now directly owns 72,980 shares in the company, valued at approximately $3,000,937.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jonathan Hyman sold 1,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.44, for a total value of $42,440.00. Following the sale, the chief technology officer now directly owns 183,258 shares of the company’s stock, valued at $7,777,469.52. The disclosure for this sale can be found here. Insiders sold a total of 79,085 shares of company stock worth $3,257,592 over the last 90 days. 24.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on BRZE. Oppenheimer reissued an “outperform” rating and set a $60.00 price target on shares of Braze in a research report on Wednesday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a research report on Monday, June 17th. Wells Fargo & Company cut their price objective on Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Finally, Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $61.13.

About Braze

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.