Peregrine Capital Management LLC Increases Stock Position in Braze, Inc. $BRZE

Peregrine Capital Management LLC raised its position in Braze, Inc. (NASDAQ:BRZE) by 28.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 297,650 shares of the company’s stock after buying an additional 66,133 shares during the period. Peregrine Capital Management LLC owned about 0.26% of Braze worth $7,028,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BRZE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Braze by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock worth $1,415,000 after purchasing an additional 1,700 shares during the period. Intech Investment Management LLC increased its position in shares of Braze by 18.8% in the first quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock valued at $1,453,000 after buying an additional 6,379 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Braze during the 2nd quarter worth approximately $272,000. Russell Investments Group Ltd. lifted its position in shares of Braze by 1,353.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,619 shares of the company’s stock valued at $270,000 after buying an additional 8,957 shares in the last quarter. Finally, Amundi grew its stake in Braze by 8.9% in the 2nd quarter. Amundi now owns 32,581 shares of the company’s stock valued at $918,000 after acquiring an additional 2,657 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Trading Up 5.7%

Shares of BRZE stock opened at $22.93 on Thursday. Braze, Inc. has a twelve month low of $15.26 and a twelve month high of $37.33. The company’s 50-day moving average price is $22.26 and its 200-day moving average price is $23.29. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -20.47 and a beta of 0.85.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $205.19 million. Braze had a negative net margin of 15.51% and a negative return on equity of 17.52%. Braze’s revenue was up 30.2% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. Braze has set its Q2 2027 guidance at 0.150-0.160 EPS. As a group, equities research analysts predict that Braze, Inc. will post -0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Braze from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $38.00 target price on shares of Braze in a report on Thursday, May 28th. DA Davidson reaffirmed a “buy” rating and issued a $33.00 price target on shares of Braze in a research note on Thursday, May 28th. The Goldman Sachs Group set a $34.00 price target on Braze and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Citigroup decreased their price objective on Braze from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and a consensus price target of $34.65.

Insider Activity at Braze

In related news, General Counsel Susan Wiseman sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $20.29, for a total value of $710,150.00. Following the transaction, the general counsel directly owned 209,424 shares in the company, valued at approximately $4,249,212.96. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.50% of the company’s stock.

Braze Company Profile

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.