Stephens Investment Management Group LLC Boosts Stock Position in Braze, Inc. (NASDAQ:BRZE)

Stephens Investment Management Group LLC lifted its position in Braze, Inc. (NASDAQ:BRZE) by 20.1% in the 4th quarter, HoldingsChannel reports. The firm owned 772,268 shares of the company’s stock after purchasing an additional 129,298 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Braze were worth $32,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV increased its holdings in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares during the period. Amalgamated Bank boosted its holdings in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Braze in the fourth quarter worth $233,000. Modus Advisors LLC purchased a new position in shares of Braze during the fourth quarter worth $253,000. Finally, Virtu Financial LLC purchased a new position in shares of Braze during the third quarter worth $253,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Buying and Selling

In related news, CTO Jonathan Hyman sold 6,930 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $238,738.50. Following the transaction, the chief technology officer now directly owns 163,020 shares in the company, valued at approximately $5,616,039. The trade was a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Magnuson sold 17,933 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $617,791.85. Following the completion of the sale, the chief executive officer now owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. The trade was a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,583 shares of company stock worth $7,797,668. 24.03% of the stock is owned by corporate insiders.

Braze Trading Down 3.1 %

NASDAQ:BRZE opened at $41.22 on Friday. The firm has a market cap of $4.27 billion, a P/E ratio of -36.16 and a beta of 1.13. The stock has a 50 day moving average of $43.40 and a two-hundred day moving average of $39.01. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BRZE shares. JPMorgan Chase & Co. cut their price target on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group dropped their target price on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Stifel Nicolaus upped their price objective on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler lifted their target price on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and an average target price of $53.74.

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.