Quadrature Capital Ltd Has $1.61 Million Stake in Braze, Inc. (NASDAQ:BRZE)

Quadrature Capital Ltd increased its position in Braze, Inc. (NASDAQ:BRZE) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,267 shares of the company’s stock after purchasing an additional 2,585 shares during the period. Quadrature Capital Ltd’s holdings in Braze were worth $1,607,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BRZE. 1832 Asset Management L.P. lifted its holdings in shares of Braze by 537.4% in the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after purchasing an additional 1,287,500 shares in the last quarter. Norges Bank bought a new position in Braze during the 4th quarter valued at $37,584,000. Fiera Capital Corp bought a new position in Braze during the 4th quarter valued at $31,153,000. Vanguard Group Inc. lifted its stake in Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Braze by 90.7% during the 4th quarter. Federated Hermes Inc. now owns 503,994 shares of the company’s stock valued at $26,777,000 after acquiring an additional 239,742 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BRZE has been the topic of several recent analyst reports. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $48.00 to $56.00 in a research note on Wednesday, July 10th. JMP Securities restated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research note on Friday, June 7th. Canaccord Genuity Group raised their price objective on Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Braze in a research note on Monday, June 17th. Finally, Piper Sandler decreased their target price on Braze from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $61.13.

Braze Stock Up 3.1 %

BRZE traded up $1.29 during trading hours on Friday, hitting $42.90. The stock had a trading volume of 1,128,313 shares, compared to its average volume of 933,080. The company’s fifty day simple moving average is $38.58 and its 200 day simple moving average is $45.75. Braze, Inc. has a 1 year low of $33.93 and a 1 year high of $61.53. The stock has a market cap of $4.36 billion, a PE ratio of -33.52 and a beta of 1.06.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) earnings per share 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 analyst estimates of $131.56 million. As a group, equities analysts expect that Braze, Inc. will post -1.21 EPS for the current year.

Insiders Place Their Bets

In other Braze news, CAO Pankaj Malik sold 2,618 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $35.23, for a total value of $92,232.14. Following the completion of the transaction, the chief accounting officer now owns 76,623 shares in the company, valued at approximately $2,699,428.29. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Susan Wiseman sold 3,558 shares of Braze stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $38.41, for a total transaction of $136,662.78. Following the completion of the sale, the general counsel now owns 221,840 shares in the company, valued at approximately $8,520,874.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 2,618 shares of Braze stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $35.23, for a total value of $92,232.14. Following the sale, the chief accounting officer now owns 76,623 shares of the company’s stock, valued at approximately $2,699,428.29. The disclosure for this sale can be found here. Insiders sold a total of 79,085 shares of company stock worth $3,257,592 in the last quarter. 24.03% of the stock is owned by company insiders.

Braze 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.