TimesSquare Capital Management LLC Acquires 31,517 Shares of Braze, Inc. $BRZE

TimesSquare Capital Management LLC grew its holdings in Braze, Inc. (NASDAQ:BRZE) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 937,020 shares of the company’s stock after purchasing an additional 31,517 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.84% of Braze worth $32,130,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Braze in the 4th quarter valued at about $27,000. Osaic Holdings Inc. raised its stake in shares of Braze by 821.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after acquiring an additional 1,404 shares in the last quarter. Quarry LP bought a new position in shares of Braze during the 3rd quarter worth approximately $46,000. Clearstead Advisors LLC raised its stake in shares of Braze by 58.2% during the 3rd quarter. Clearstead Advisors LLC now owns 1,685 shares of the company’s stock worth $48,000 after acquiring an additional 620 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Braze by 34.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,843 shares of the company’s stock worth $52,000 after acquiring an additional 471 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

BRZE has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Braze from $53.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Citizens Jmp reiterated a “market outperform” rating and set a $35.00 price objective on shares of Braze in a research note on Wednesday, April 29th. Mizuho reduced their price objective on shares of Braze from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. The Goldman Sachs Group reduced their price objective on shares of Braze from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Braze in a research note on Wednesday, March 25th. Twenty-two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and a consensus target price of $36.90.

Braze Trading Up 3.4%

Shares of Braze stock opened at $21.58 on Tuesday. Braze, Inc. has a 12-month low of $15.26 and a 12-month high of $37.67. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -17.69 and a beta of 0.78. The firm’s 50 day simple moving average is $21.37 and its two-hundred day simple moving average is $24.73.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Tuesday, March 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Braze had a negative net margin of 17.78% and a negative return on equity of 18.75%. The company had revenue of $205.17 million for the quarter, compared to analyst estimates of $198.23 million. During the same quarter in the previous year, the company posted $0.12 EPS. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, sell-side analysts predict that Braze, Inc. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In other news, CEO William Magnuson sold 26,413 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total value of $447,172.09. Following the sale, the chief executive officer directly owned 4,491,098 shares of the company’s stock, valued at $76,034,289.14. This represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Pankaj Malik sold 2,893 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $48,978.49. Following the completion of the sale, the chief accounting officer directly owned 50,679 shares in the company, valued at $857,995.47. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 95,676 shares of company stock worth $1,737,811 in the last three months. 18.20% of the stock is owned by company insiders.

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.