Sapphire Ventures L.L.C. Has $48.38 Million Stake in Braze, Inc. $BRZE

Sapphire Ventures L.L.C. lessened its position in Braze, Inc. (NASDAQ:BRZE) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,665,798 shares of the company’s stock after selling 79,583 shares during the quarter. Braze makes up about 53.5% of Sapphire Ventures L.L.C.’s portfolio, making the stock its biggest position. Sapphire Ventures L.L.C.’s holdings in Braze were worth $48,375,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Braze by 7.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,117 shares of the company’s stock valued at $762,000 after purchasing an additional 1,470 shares during the last quarter. XTX Topco Ltd bought a new position in Braze in the first quarter valued at $469,000. US Bancorp DE increased its stake in Braze by 1.4% in the 1st quarter. US Bancorp DE now owns 21,314 shares of the company’s stock valued at $769,000 after buying an additional 302 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Braze by 488,050.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,763 shares of the company’s stock worth $352,000 after buying an additional 9,761 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Braze by 9.0% during the 1st quarter. Blair William & Co. IL now owns 10,801 shares of the company’s stock worth $390,000 after buying an additional 891 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Transactions at Braze

In related news, CAO Pankaj Malik sold 4,174 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $32.77, for a total value of $136,781.98. Following the transaction, the chief accounting officer directly owned 62,756 shares in the company, valued at approximately $2,056,514.12. This represents a 6.24% 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, General Counsel Susan Wiseman sold 5,474 shares of Braze stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total transaction of $145,827.36. Following the completion of the sale, the general counsel owned 224,250 shares of the company’s stock, valued at $5,974,020. This trade represents a 2.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 71,827 shares of company stock worth $1,962,397. 18.20% of the stock is currently owned by company insiders.

Braze Stock Up 0.4%

Shares of BRZE stock opened at $29.38 on Thursday. Braze, Inc. has a 12-month low of $23.91 and a 12-month high of $48.33. The company has a market capitalization of $3.27 billion, a PE ratio of -28.25 and a beta of 1.10. The firm has a 50 day moving average price of $28.05 and a two-hundred day moving average price of $28.80.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, September 4th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). The firm had revenue of $180.11 million for the quarter, compared to the consensus estimate of $171.63 million. Braze had a negative return on equity of 17.97% and a negative net margin of 16.62%.Braze’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. As a group, research analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

BRZE has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Braze in a report on Wednesday, October 8th. Mizuho raised their price target on Braze from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. The Goldman Sachs Group set a $52.00 price target on Braze and gave the stock a “buy” rating in a research report on Saturday, September 6th. DA Davidson reissued a “buy” rating and issued a $40.00 price objective on shares of Braze in a report on Friday, September 5th. Finally, Barclays raised their target price on shares of Braze from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Nineteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.11.

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.