Braze, Inc. (NASDAQ:BRZE) Shares Sold by Battery Management Corp.

Battery Management Corp. reduced its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 64.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,660,129 shares of the company’s stock after selling 3,054,990 shares during the quarter. Braze makes up approximately 8.9% of Battery Management Corp.’s portfolio, making the stock its 4th largest position. Battery Management Corp.’s holdings in Braze were worth $69,526,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Braze in the fourth quarter valued at approximately $47,000. KBC Group NV lifted its stake in Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares during the last quarter. Amalgamated Bank lifted its stake in Braze by 18.9% in the third 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. Plato Investment Management Ltd acquired a new stake in Braze in the fourth quarter valued at approximately $115,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Braze in the fourth quarter valued at approximately $165,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 3,955 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $41.41, for a total value of $163,776.55. Following the sale, the chief accounting officer now owns 63,140 shares of the company’s stock, valued at $2,614,627.40. The trade was a 5.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jonathan Hyman sold 5,210 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the sale, the chief technology officer now directly owns 157,810 shares in the company, valued at $6,441,804.20. This trade represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,581 shares of company stock valued at $8,059,840 in the last 90 days. 24.03% of the stock is currently owned by company insiders.

Braze Price Performance

Shares of Braze stock opened at $36.48 on Thursday. The firm has a market capitalization of $3.78 billion, a PE ratio of -32.00 and a beta of 1.13. The company’s fifty day moving average price is $42.40 and its two-hundred day moving average price is $38.86. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $55.47.

Analyst Upgrades and Downgrades

BRZE has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. 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 research note on Tuesday, December 10th. Macquarie lifted their target price on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. Finally, Stifel Nicolaus lifted their price target on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Company 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.