Pathway Capital Management LP Invests $2.21 Million in Braze, Inc. $BRZE

Pathway Capital Management LP bought a new position in shares of Braze, Inc. (NASDAQ:BRZE) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 64,370 shares of the company’s stock, valued at approximately $2,207,000. Braze makes up approximately 28.3% of Pathway Capital Management LP’s portfolio, making the stock its biggest position.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Braze by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock worth $337,793,000 after acquiring an additional 892,635 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Braze by 10.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,687,928 shares of the company’s stock worth $76,445,000 after acquiring an additional 261,351 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Braze by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock worth $69,831,000 after acquiring an additional 139,133 shares in the last quarter. Battery Management CORP. boosted its stake in shares of Braze by 70.2% during the 3rd quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock worth $68,967,000 after acquiring an additional 1,000,000 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Braze by 28.8% during the 2nd quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock worth $65,197,000 after acquiring an additional 518,103 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Braze news, CEO William Magnuson sold 26,413 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 4,491,098 shares of the company’s stock, valued at $76,034,289.14. This trade represents a 0.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Pankaj Malik sold 2,893 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 50,679 shares of the company’s stock, valued at $857,995.47. This represents a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 95,676 shares of company stock worth $1,737,811 over the last three months. 18.20% of the stock is owned by insiders.

Braze Stock Performance

NASDAQ:BRZE opened at $19.26 on Wednesday. The stock has a market capitalization of $2.19 billion, a P/E ratio of -15.79 and a beta of 0.78. The company has a 50 day moving average price of $21.30 and a 200 day moving average price of $24.94. Braze, Inc. has a fifty-two week low of $15.26 and a fifty-two week high of $37.67.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on BRZE. Mizuho lowered their target price on shares of Braze from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Wednesday, March 25th. TD Cowen dropped their price target on shares of Braze from $43.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 price target on shares of Braze in a research note on Wednesday, March 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $43.00 price target on shares of Braze in a research note on Monday, March 23rd. Twenty-two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and an average target price of $36.90.

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.