ICONIQ Capital LLC Reduces Stake in Braze, Inc. $BRZE

ICONIQ Capital LLC decreased its position in Braze, Inc. (NASDAQ:BRZE) by 13.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,555,562 shares of the company’s stock after selling 233,068 shares during the quarter. Braze makes up 0.7% of ICONIQ Capital LLC’s portfolio, making the stock its 15th biggest holding. ICONIQ Capital LLC’s holdings in Braze were worth $43,711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BRZE. JPMorgan Chase & Co. raised its stake in shares of Braze by 2.8% in the second quarter. JPMorgan Chase & Co. now owns 2,316,234 shares of the company’s stock worth $65,086,000 after buying an additional 64,025 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in Braze in the 2nd quarter worth $736,000. Dynamic Technology Lab Private Ltd purchased a new position in Braze in the 1st quarter worth approximately $691,000. Versor Investments LP bought a new stake in shares of Braze during the second quarter valued at approximately $638,000. Finally, AlphaQuest LLC lifted its holdings in shares of Braze by 250.6% in the second quarter. AlphaQuest LLC now owns 17,899 shares of the company’s stock worth $503,000 after buying an additional 12,794 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

NASDAQ BRZE opened at $33.14 on Friday. The company has a market cap of $3.69 billion, a P/E ratio of -30.13 and a beta of 1.10. The business’s 50 day moving average price is $28.39 and its 200-day moving average price is $28.71. Braze, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $48.33.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $190.84 million for the quarter, compared to analysts’ expectations of $198.25 million. Braze had a negative net margin of 16.85% and a negative return on equity of 17.87%. The business’s revenue was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 earnings per share. Braze has set its FY 2026 guidance at 0.420-0.430 EPS and its Q4 2026 guidance at 0.130-0.140 EPS. As a group, equities analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho raised their target price on shares of Braze from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Friday, September 5th. UBS Group dropped their price target on Braze from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Stifel Nicolaus lifted their price objective on Braze from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, DA Davidson increased their target price on Braze from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $47.05.

Insiders Place Their Bets

In other Braze news, CEO William Magnuson sold 26,698 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $26.64, for a total value of $711,234.72. Following the completion of the sale, the chief executive officer owned 694,746 shares of the company’s stock, valued at $18,508,033.44. This trade represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Astha Malik sold 14,322 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $26.64, for a total value of $381,538.08. Following the transaction, the insider directly owned 219,338 shares in the company, valued at approximately $5,843,164.32. This represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,557 shares of company stock valued at $1,856,089 over the last quarter. Corporate insiders own 18.20% of the company’s stock.

Braze 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.