GAMMA Investing LLC Has $958,000 Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

GAMMA Investing LLC increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 12,025.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,555 shares of the company’s stock after purchasing an additional 26,336 shares during the period. GAMMA Investing LLC’s holdings in Braze were worth $958,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BRZE. Tower Research Capital LLC TRC increased its holdings in shares of Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after buying an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after purchasing an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Braze in the fourth quarter valued at approximately $47,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Braze in the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Price Performance

Braze stock opened at $27.43 on Tuesday. The firm has a market capitalization of $2.90 billion, a PE ratio of -24.06 and a beta of 1.22. The company’s 50-day moving average is $32.41 and its 200-day moving average is $37.54. Braze, Inc. has a fifty-two week low of $27.05 and a fifty-two week high of $48.33.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. During the same period in the previous year, the business earned ($0.05) EPS. Braze’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BRZE. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a report on Friday, June 6th. Stephens set a $41.00 price objective on shares of Braze and gave the company an “overweight” rating in a research note on Friday, June 6th. Canaccord Genuity Group raised their price objective on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Wells Fargo & Company reduced their price target on shares of Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group reduced their price target on shares of Braze from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.60.

Insider Activity at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $41.46, for a total transaction of $62,190.00. Following the transaction, the director now owns 15,269 shares in the company, valued at $633,052.74. This represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $122,171.40. Following the transaction, the chief accounting officer now owns 69,274 shares in the company, valued at approximately $2,485,551.12. The trade was a 4.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,150 shares of company stock worth $2,540,814. Insiders own 18.20% of the company’s stock.

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.