ShawSpring Partners LLC Has $52.56 Million Holdings in Braze, Inc. $BRZE

ShawSpring Partners LLC trimmed its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 26.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,848,244 shares of the company’s stock after selling 671,356 shares during the quarter. Braze accounts for about 7.8% of ShawSpring Partners LLC’s investment portfolio, making the stock its 7th biggest position. ShawSpring Partners LLC owned approximately 1.66% of Braze worth $52,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRZE. JPMorgan Chase & Co. lifted its stake in shares of Braze by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock valued at $69,831,000 after purchasing an additional 139,133 shares during the period. Citizens Financial Group Inc. RI purchased a new position in shares of Braze in the second quarter valued at $736,000. Jefferies Financial Group Inc. grew its stake in Braze by 412.2% during the 3rd quarter. Jefferies Financial Group Inc. now owns 99,761 shares of the company’s stock worth $2,837,000 after buying an additional 80,285 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Braze in the second quarter valued at $3,273,000. Finally, Geode Capital Management LLC increased its holdings in Braze by 10.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,797,546 shares of the company’s stock valued at $50,517,000 after acquiring an additional 177,391 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CTO Jonathan Hyman sold 7,391 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $125,129.63. Following the completion of the transaction, the chief technology officer directly owned 1,692,933 shares of the company’s stock, valued at $28,661,355.69. This trade represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Pankaj Malik sold 5,540 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $35.76, for a total transaction of $198,110.40. Following the completion of the transaction, the chief accounting officer owned 53,572 shares of the company’s stock, valued at approximately $1,915,734.72. The trade was a 9.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 66,216 shares of company stock worth $1,225,772 in the last ninety days. 18.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BRZE has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Braze in a research report on Monday, December 29th. BTIG Research started coverage on Braze in a report on Tuesday, December 16th. They set a “buy” rating and a $45.00 price target for the company. DA Davidson boosted their target price on shares of Braze from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 target price on shares of Braze in a research report on Wednesday, December 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Wednesday, January 14th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $43.65.

Braze Stock Performance

Shares of BRZE stock opened at $18.58 on Friday. The business’s fifty day moving average is $21.89 and its 200-day moving average is $27.06. The stock has a market cap of $2.08 billion, a PE ratio of -16.89 and a beta of 1.08. Braze, Inc. has a 1 year low of $15.26 and a 1 year high of $43.89.

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

About Braze

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.