Lisanti Capital Growth LLC Makes New $4.08 Million Investment in Braze, Inc. $BRZE

Lisanti Capital Growth LLC purchased a new position in shares of Braze, Inc. (NASDAQ:BRZE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 119,030 shares of the company’s stock, valued at approximately $4,082,000. Lisanti Capital Growth LLC owned 0.11% of Braze as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 139,133 shares during the period. SG Americas Securities LLC grew its position in Braze by 5,412.5% during the 4th quarter. SG Americas Securities LLC now owns 289,790 shares of the company’s stock worth $9,937,000 after purchasing an additional 284,533 shares during the period. Vanguard Group Inc. lifted its holdings in Braze by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock valued at $337,793,000 after acquiring an additional 892,635 shares during the period. Dana Investment Advisors Inc. purchased a new stake in Braze in the 4th quarter worth approximately $1,980,000. Finally, Jefferies Financial Group Inc. boosted its position in Braze by 412.2% in the 3rd quarter. Jefferies Financial Group Inc. now owns 99,761 shares of the company’s stock worth $2,837,000 after purchasing an additional 80,285 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 35,000 shares of the stock in a transaction 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 completion of the transaction, the general counsel directly owned 209,424 shares of the company’s stock, valued at approximately $4,249,212.96. This represents a 14.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 18.20% of the company’s stock.

Braze Price Performance

Shares of BRZE stock opened at $24.35 on Friday. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -19.96 and a beta of 0.78. The stock has a 50 day simple moving average of $21.66 and a 200-day simple moving average of $24.62. Braze, Inc. has a 1-year low of $15.26 and a 1-year high of $37.67.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on BRZE. BTIG Research restated a “buy” rating and issued a $30.00 price objective on shares of Braze in a research report on Friday, April 17th. The Goldman Sachs Group lowered their price objective on Braze from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Piper Sandler lowered their price objective on Braze from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 price objective on shares of Braze in a research report on Wednesday, March 25th. Finally, Stifel Nicolaus lowered their price objective on Braze from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Twenty-two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.