TimesSquare Capital Management LLC Grows Stock Holdings in Braze, Inc. $BRZE

TimesSquare Capital Management LLC grew its holdings in Braze, Inc. (NASDAQ:BRZE) by 3.5% during the 4th quarter, Holdings Channel reports. The fund owned 937,020 shares of the company’s stock after purchasing an additional 31,517 shares during the period. TimesSquare Capital Management LLC’s holdings in Braze were worth $32,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in BRZE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Braze by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock valued at $1,415,000 after acquiring an additional 1,700 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Braze by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock valued at $1,453,000 after acquiring an additional 6,379 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Braze during the second quarter worth $272,000. Russell Investments Group Ltd. boosted its holdings in Braze by 1,353.0% during the second quarter. Russell Investments Group Ltd. now owns 9,619 shares of the company’s stock worth $270,000 after buying an additional 8,957 shares in the last quarter. Finally, Amundi boosted its holdings in Braze by 8.9% during the second quarter. Amundi now owns 32,581 shares of the company’s stock worth $918,000 after buying an additional 2,657 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BRZE shares. Barclays increased their price target on shares of Braze from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, March 25th. Citizens Jmp reissued a “market outperform” rating and set a $35.00 price target on shares of Braze in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on shares of Braze from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, March 25th. Mizuho lowered their price target on shares of Braze from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Finally, Citigroup lowered their price target on shares of Braze from $53.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Twenty-two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.90.

Braze Stock Up 3.4%

BRZE opened at $21.58 on Tuesday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -17.69 and a beta of 0.78. Braze, Inc. has a 52-week low of $15.26 and a 52-week high of $37.67. The firm’s fifty day simple moving average is $21.37 and its two-hundred day simple moving average is $24.73.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Tuesday, March 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $205.17 million for the quarter, compared to analysts’ expectations of $198.23 million. Braze had a negative net margin of 17.78% and a negative return on equity of 18.75%. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. On average, research analysts forecast that Braze, Inc. will post -0.87 EPS for the current year.

Insider Buying and Selling at Braze

In other Braze news, CEO William Magnuson sold 26,413 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $447,172.09. Following the transaction, the chief executive officer directly owned 4,491,098 shares of the company’s stock, valued at $76,034,289.14. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 35,000 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $20.29, for a total transaction of $710,150.00. Following the transaction, the general counsel directly owned 209,424 shares in the company, valued at approximately $4,249,212.96. The trade was a 14.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 95,676 shares of company stock valued at $1,737,811. Insiders own 18.20% of the company’s stock.

Braze 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.