Braze, Inc. $BRZE is Optimus Prime Fund Management Co. Ltd.’s 8th Largest Position

Optimus Prime Fund Management Co. Ltd. lifted its stake in Braze, Inc. (NASDAQ:BRZE) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,780,000 shares of the company’s stock after purchasing an additional 240,000 shares during the period. Braze comprises about 4.5% of Optimus Prime Fund Management Co. Ltd.’s investment portfolio, making the stock its 8th largest position. Optimus Prime Fund Management Co. Ltd.’s holdings in Braze were worth $50,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Braze by 443.0% in the 3rd quarter. Barclays PLC now owns 1,404,395 shares of the company’s stock valued at $39,941,000 after buying an additional 1,145,748 shares during the period. UBS Group AG grew its stake in Braze by 421.1% in the 3rd quarter. UBS Group AG now owns 1,279,678 shares of the company’s stock worth $36,394,000 after acquiring an additional 1,034,087 shares in the last quarter. Norges Bank purchased a new position in shares of Braze during the second quarter worth approximately $24,467,000. Westfield Capital Management Co. LP increased its position in shares of Braze by 36.1% during the third quarter. Westfield Capital Management Co. LP now owns 2,177,953 shares of the company’s stock worth $61,941,000 after acquiring an additional 577,649 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Braze by 28.8% during the second quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock valued at $65,197,000 after acquiring an additional 518,103 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Trading Up 1.0%

NASDAQ:BRZE opened at $18.77 on Friday. The firm has a fifty day simple moving average of $21.62 and a 200-day simple moving average of $27.01. Braze, Inc. has a 12 month low of $15.26 and a 12 month high of $43.89. The company has a market capitalization of $2.11 billion, a P/E ratio of -17.06 and a beta of 1.08.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Tuesday, December 9th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $190.84 million for the quarter, compared to the consensus estimate of $198.25 million. Braze had a negative net margin of 16.85% and a negative return on equity of 17.87%. The business’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. Equities analysts forecast that Braze, Inc. will post -0.98 EPS for the current year.

Insider Activity

In related news, CAO Pankaj Malik sold 2,893 shares of Braze stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $48,978.49. Following the completion of the transaction, the chief accounting officer directly owned 50,679 shares in the company, valued at approximately $857,995.47. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Magnuson sold 26,413 shares of Braze stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $447,172.09. Following the completion of the transaction, the chief executive officer directly owned 4,491,098 shares of the company’s stock, valued at $76,034,289.14. The trade was a 0.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 66,216 shares of company stock valued at $1,225,772 over the last 90 days. Company insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BRZE. Barclays increased their price objective on Braze from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Wolfe Research raised Braze to an “overweight” rating in a research report on Wednesday, December 10th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Wednesday, January 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 target price on shares of Braze in a report on Wednesday, December 10th. Finally, Wells Fargo & Company increased their price target on Braze from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.65.

About Braze

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.