Braze, Inc. (NASDAQ:BRZE) Shares Purchased by Peregrine Capital Management LLC

by · The Markets Daily

Peregrine Capital Management LLC increased its stake in shares of Braze, Inc. (NASDAQ:BRZE – Free Report) by 3.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 236,792 shares of the company’s stock after buying an additional 7,786 shares during the quarter. Peregrine Capital Management LLC’s holdings in Braze were worth $8,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRZE. Tower Research Capital LLC TRC raised its holdings in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 405 shares during the period. GAMMA Investing LLC grew its stake in shares of Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after buying an additional 517 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after buying an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after buying an additional 928 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Braze during the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Analysts Set New Price Targets

BRZE has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research report on Friday, June 6th. Cantor Fitzgerald initiated coverage on shares of Braze in a research note on Tuesday, June 3rd. They set an “overweight” rating and a $45.00 target price for the company. Loop Capital reduced their price target on shares of 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 dropped their target price on shares of Braze from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, June 6th. Finally, Stephens set a $41.00 price objective on Braze and gave the company an “overweight” rating in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Braze has a consensus rating of “Moderate Buy” and a consensus target price of $46.30.

Check Out Our Latest Research Report on BRZE

Insider Activity at Braze

In other news, CEO William Magnuson sold 25,089 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $900,193.32. Following the completion of the transaction, the chief executive officer now directly owns 745,769 shares of the company’s stock, valued at approximately $26,758,191.72. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 3,405 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $122,171.40. Following the transaction, the chief accounting officer now owns 69,274 shares of the company’s stock, valued at $2,485,551.12. This represents a 4.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,650 shares of company stock valued at $2,478,624 over the last three months. 18.20% of the stock is owned by insiders.

Braze Trading Up 0.1%

NASDAQ:BRZE opened at $26.76 on Monday. Braze, Inc. has a twelve month low of $25.22 and a twelve month high of $48.33. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -26.50 and a beta of 1.22. The firm’s fifty day simple moving average is $31.81 and its 200 day simple moving average is $36.62.

Braze (NASDAQ:BRZE – Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. Braze had a negative net margin of 16.76% and a negative return on equity of 18.89%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, analysts predict that Braze, Inc. will post -0.98 earnings per share for the current year.

About Braze

(Free Report)

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.

See Also

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