Congress Park Capital LLC Buys 1,671 Shares of Braze, Inc. (NASDAQ:BRZE)

Congress Park Capital LLC grew its stake in Braze, Inc. (NASDAQ:BRZE) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,955 shares of the company’s stock after acquiring an additional 1,671 shares during the period. Congress Park Capital LLC’s holdings in Braze were worth $1,260,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Braze by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after purchasing an additional 480,179 shares during the last quarter. Granite Investment Partners LLC acquired a new stake in Braze in the 2nd quarter valued at about $12,925,000. Point72 Asset Management L.P. acquired a new stake in Braze in the 2nd quarter valued at about $10,166,000. Peregrine Capital Management LLC acquired a new stake in Braze in the 2nd quarter valued at about $7,349,000. Finally, Industry Ventures L.L.C. acquired a new stake in Braze in the 2nd quarter valued at about $7,332,000. Institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Oppenheimer cut their price objective on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Barclays cut their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Finally, DA Davidson cut their price objective on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Eighteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $58.53.

Insider Transactions at Braze

In other news, CAO Pankaj Malik sold 1,381 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $41.12, for a total transaction of $56,786.72. Following the completion of the transaction, the chief accounting officer now directly owns 72,980 shares in the company, valued at approximately $3,000,937.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Pankaj Malik sold 1,381 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total value of $56,786.72. Following the completion of the sale, the chief accounting officer now directly owns 72,980 shares in the company, valued at $3,000,937.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares of the company’s stock, valued at $273,919.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,284 shares of company stock worth $7,928,732. Corporate insiders own 24.03% of the company’s stock.

Braze Price Performance

NASDAQ:BRZE traded up $0.23 during mid-day trading on Friday, reaching $30.16. The stock had a trading volume of 384,877 shares, compared to its average volume of 1,012,543. The stock has a 50-day simple moving average of $37.81 and a two-hundred day simple moving average of $39.50. The stock has a market capitalization of $3.07 billion, a PE ratio of -23.23 and a beta of 1.03. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.30) earnings per share. Equities analysts expect that Braze, Inc. will post -1.02 EPS for the current year.

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.