Sincerus Advisory LLC Has $605,000 Stock Position in Braze, Inc. (NASDAQ:BRZE)

Sincerus Advisory LLC decreased its stake in Braze, Inc. (NASDAQ:BRZE) by 17.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,766 shares of the company’s stock after selling 3,636 shares during the period. Sincerus Advisory LLC’s holdings in Braze were worth $605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mercer Global Advisors Inc. ADV boosted its stake in Braze by 2.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock worth $559,000 after buying an additional 316 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after purchasing an additional 517 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of 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 purchasing an additional 827 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Braze by 7.4% in the 1st quarter. SG Americas Securities LLC now owns 12,604 shares of the company’s stock valued at $455,000 after purchasing an additional 868 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Activity

In related news, CTO Jonathan Hyman sold 9,197 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 $329,988.36. Following the completion of the sale, the chief technology officer now directly owns 214,024 shares of the company’s stock, valued at approximately $7,679,181.12. This represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Astha Malik sold 13,460 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 value of $482,944.80. Following the sale, the insider now directly owns 258,395 shares of the company’s stock, valued at approximately $9,271,212.60. The trade was a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,150 shares of company stock valued at $2,540,814 in the last ninety days. 18.20% of the stock is owned by insiders.

Braze Trading Down 0.6%

Shares of NASDAQ:BRZE opened at $26.82 on Friday. The stock has a market capitalization of $2.83 billion, a P/E ratio of -26.55 and a beta of 1.22. Braze, Inc. has a 1-year low of $26.26 and a 1-year high of $48.33. The business has a 50-day moving average price of $32.10 and a two-hundred day moving average price of $37.31.

Braze (NASDAQ:BRZE) last announced 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. The firm had revenue of $162.06 million during the quarter, compared to analysts’ expectations of $158.60 million. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. As a group, equities analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BRZE. Loop Capital reduced their target price on shares of Braze from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, June 6th. Stephens set a $41.00 target price on shares of Braze and gave the company an “overweight” rating in a research note on Friday, June 6th. DA Davidson reduced their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Braze from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, June 6th. Finally, Oppenheimer reduced their target price on shares of Braze from $51.00 to $44.00 and set an “outperform” rating on the stock in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and an average price target of $46.60.

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.