ShawSpring Partners LLC Acquires New Shares in Braze, Inc. (NASDAQ:BRZE)

ShawSpring Partners LLC acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,500,413 shares of the company’s stock, valued at approximately $62,837,000. Braze makes up 8.3% of ShawSpring Partners LLC’s investment 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 large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake 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 purchasing an additional 346 shares during the last quarter. Aster Capital Management DIFC Ltd boosted 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 valued at $35,000 after acquiring an additional 827 shares in the last quarter. KBC Group NV grew its position 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 acquiring an additional 832 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after purchasing an additional 928 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Braze during the fourth quarter valued at about $47,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 10,000 shares of the company’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 sale, the general counsel now directly owns 189,520 shares in the company, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total value of $61,950.00. Following the completion of the transaction, the director now owns 15,269 shares of the company’s stock, valued at approximately $630,609.70. This trade represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,937 shares of company stock valued at $2,707,581. 24.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BRZE shares. William Blair restated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the stock a “buy” rating in a research report on Friday, March 28th. Wells Fargo & Company restated an “overweight” rating and set a $55.00 price target (up previously from $50.00) on shares of Braze in a research note on Friday, March 28th. Canaccord Genuity Group increased their target price on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Finally, Citigroup lifted their price target on Braze from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $52.50.

Braze Price Performance

Shares of BRZE stock opened at $29.01 on Wednesday. The firm has a fifty day moving average price of $36.03 and a 200-day moving average price of $37.72. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -25.45 and a beta of 1.13. Braze, Inc. has a 1 year low of $27.75 and a 1 year high of $48.33.

Braze (NASDAQ:BRZE) last released its 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 net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million for the quarter, compared to analysts’ expectations of $155.72 million. During the same quarter in the previous year, the company earned ($0.04) EPS. Braze’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities research analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

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.