Holocene Advisors LP Acquires 29,123 Shares of Braze, Inc. (NASDAQ:BRZE)

Holocene Advisors LP raised its position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 52.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,383 shares of the company's stock after purchasing an additional 29,123 shares during the period. Holocene Advisors LP owned approximately 0.08% of Braze worth $2,729,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company's stock valued at $54,000 after buying an additional 276 shares in the last quarter. Quarry LP bought a new position in Braze during the second quarter valued at approximately $50,000. Canton Hathaway LLC raised its stake in shares of Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company's stock worth $77,000 after acquiring an additional 1,187 shares in the last quarter. KBC Group NV lifted its holdings in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company's stock worth $68,000 after acquiring an additional 615 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company's stock valued at $73,000 after purchasing an additional 358 shares in the last quarter. Institutional investors own 90.47% of the company's stock.

Braze Trading Up 0.4 %

Shares of BRZE stock traded up $0.17 during midday trading on Friday, reaching $41.46. 1,851,824 shares of the stock were exchanged, compared to its average volume of 1,061,502. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53. The firm has a market cap of $4.26 billion, a PE ratio of -34.99 and a beta of 1.15. The company's 50 day moving average is $33.94 and its two-hundred day moving average is $37.33.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company had revenue of $145.50 million for the quarter, compared to analysts' expectations of $141.32 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. The firm's revenue for the quarter was up 26.4% on a year-over-year basis. As a group, equities analysts expect that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Insider Transactions at Braze

In other news, CTO Jonathan Hyman sold 6,930 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the sale, the chief technology officer now directly owns 163,020 shares of the company's stock, valued at approximately $5,616,039. This represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares of the company's stock, valued at $1,720,244.10. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,979 shares of company stock valued at $3,688,914 in the last three months. 24.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BRZE shares. Loop Capital reiterated a "buy" rating and issued a $75.00 target price on shares of Braze in a research report on Tuesday, September 24th. Stifel Nicolaus initiated coverage on Braze in a report on Tuesday, October 22nd. They issued a "buy" rating and a $37.00 price objective on the stock. Piper Sandler dropped their target price on Braze from $51.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group decreased their price target on Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Finally, TD Cowen dropped their price objective on Braze from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $53.95.

About Braze

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.