Champlain Investment Partners LLC Has $89.90 Million Position in Braze, Inc. (NASDAQ:BRZE)

Champlain Investment Partners LLC trimmed its position in Braze, Inc. (NASDAQ:BRZE) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,779,800 shares of the company’s stock after selling 132,110 shares during the period. Champlain Investment Partners LLC’s holdings in Braze were worth $89,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BRZE. Stephens Investment Management Group LLC bought a new stake in Braze in the third quarter valued at approximately $20,794,000. Granite Investment Partners LLC bought a new stake in shares of Braze in the 2nd quarter valued at $12,925,000. Point72 Asset Management L.P. acquired a new stake in Braze during the 2nd quarter worth $10,166,000. Peregrine Capital Management LLC bought a new position in Braze during the second quarter worth about $7,349,000. Finally, Industry Ventures L.L.C. acquired a new position in Braze in the second quarter valued at about $7,332,000. Institutional investors own 90.47% of the company’s stock.

Insider Activity

In other news, CEO William Magnuson sold 17,933 shares of Braze stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $617,791.85. Following the completion of the transaction, the chief executive officer now directly owns 582,816 shares in the company, valued at approximately $20,078,011.20. The trade was a 2.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Isabelle Winkles sold 10,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.15, for a total value of $451,500.00. Following the completion of the sale, the chief financial officer now owns 216,208 shares in the company, valued at approximately $9,761,791.20. This trade represents a 4.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 190,479 shares of company stock valued at $7,148,911. 24.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BRZE has been the topic of a number of research analyst reports. Macquarie started coverage on Braze in a research report on Thursday, October 31st. They set a “neutral” rating and a $30.00 price target on the stock. TD Cowen dropped their target price on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Loop Capital reiterated a “buy” rating and issued a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. The Goldman Sachs Group dropped their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Oppenheimer cut their price objective on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.47.

Braze Stock Up 1.9 %

NASDAQ:BRZE opened at $38.71 on Friday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The stock’s 50 day moving average price is $32.92 and its two-hundred day moving average price is $37.48.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.30) earnings per share. Sell-side analysts anticipate that Braze, Inc. will post -1.02 EPS for the current fiscal 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.