ShawSpring Partners LLC Makes New $62.84 Million Investment in Braze, Inc. (NASDAQ:BRZE)

ShawSpring Partners LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,500,413 shares of the company's stock, valued at approximately $62,837,000. Braze makes up approximately 8.3% of ShawSpring Partners LLC's portfolio, making the stock its 8th biggest holding. ShawSpring Partners LLC owned about 1.45% of Braze as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BRZE. Harbor Capital Advisors Inc. boosted its stake in Braze by 3.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company's stock worth $453,000 after acquiring an additional 346 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in Braze by 9,188.9% in 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 boosted its position in shares of Braze by 39.7% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $123,000 after buying an additional 832 shares during the period. EverSource Wealth Advisors LLC boosted its position in Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after acquiring an additional 928 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Braze in the fourth quarter valued at $47,000. 90.47% of the stock is owned by institutional investors.

Insider Activity

In other Braze news, General Counsel Susan Wiseman sold 10,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the transaction, the general counsel now directly owns 189,520 shares of the company's stock, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jonathan Hyman sold 5,210 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $212,672.20. Following the completion of the sale, the chief technology officer now owns 157,810 shares in the company, valued at approximately $6,441,804.20. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,937 shares of company stock valued at $2,707,581 over the last three months. Corporate insiders own 24.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Canaccord Genuity Group lifted their price target on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Raymond James boosted their price objective on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Braze in a report on Friday, March 28th. Finally, DA Davidson decreased their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Braze currently has an average rating of "Buy" and an average target price of $52.50.

Braze Stock Performance

Shares of NASDAQ BRZE traded up $0.79 during midday trading on Friday, hitting $29.21. 1,005,433 shares of the stock traded hands, compared to its average volume of 1,227,796. The business has a 50 day moving average price of $35.24 and a two-hundred day moving average price of $37.61. Braze, Inc. has a one year low of $27.75 and a one year high of $48.33. The company has a market cap of $3.06 billion, a PE ratio of -25.62 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last posted 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 return on equity of 24.88% and a negative net margin of 20.41%. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the company earned ($0.04) earnings per share. The company's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities research analysts forecast that Braze, Inc. will post -0.98 EPS for the current fiscal 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.