Oribel Capital Management LP Buys New Stake in Braze, Inc. (NASDAQ:BRZE)

Oribel Capital Management LP purchased a new position in Braze, Inc. (NASDAQ:BRZE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 313,000 shares of the company’s stock, valued at approximately $13,108,000. Oribel Capital Management LP owned approximately 0.30% of Braze as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BRZE. EverSource Wealth Advisors LLC lifted its position 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 worth $39,000 after buying an additional 928 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Braze during the 4th quarter worth approximately $47,000. Plato Investment Management Ltd bought a new position in shares of Braze during the 4th quarter valued at approximately $115,000. KBC Group NV boosted its position in shares of Braze by 39.7% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after acquiring an additional 832 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Braze in the fourth quarter valued at $165,000. Institutional investors own 90.47% of the company’s stock.

Insiders Place Their Bets

In other Braze news, insider Myles Kleeger sold 10,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.43, for a total transaction of $454,300.00. Following the completion of the sale, the insider now owns 184,396 shares in the company, valued at $8,377,110.28. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $40.02, for a total value of $139,509.72. Following the completion of the transaction, the general counsel now owns 182,109 shares in the company, valued at $7,288,002.18. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,970 shares of company stock worth $3,904,111 in the last three months. Corporate insiders own 24.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BRZE shares. Piper Sandler increased their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group increased their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 28th. Stephens initiated coverage on Braze in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price target for the company. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Finally, Stifel Nicolaus set a $50.00 target price on Braze and gave the stock a “buy” rating in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Braze presently has a consensus rating of “Buy” and a consensus price target of $53.00.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $30.98 on Friday. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $48.33. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -27.18 and a beta of 1.13. The stock has a 50 day moving average price of $38.61 and a 200 day moving average price of $37.99.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) EPS. Analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

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.