ProShare Advisors LLC increased its holdings in shares of Braze, Inc. (NASDAQ:BRZE – Free Report) by 6.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,845 shares of the company’s stock after acquiring an additional 846 shares during the period. ProShare Advisors LLC’s holdings in Braze were worth $577,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Neo Ivy Capital Management acquired a new position in Braze during the fourth quarter worth $40,000. Covestor Ltd raised its position in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares during the last quarter. Comerica Bank lifted its stake in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares in the last quarter. Canton Hathaway LLC boosted its holdings in Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after buying an additional 1,187 shares during the last quarter. Finally, RiverPark Advisors LLC increased its stake in Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after buying an additional 1,411 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.
Braze Stock Performance
Shares of BRZE opened at $33.22 on Monday. The company’s 50-day simple moving average is $39.73 and its 200-day simple moving average is $40.65. Braze, Inc. has a 1 year low of $31.80 and a 1 year high of $61.53. The stock has a market capitalization of $3.38 billion, a PE ratio of -25.95 and a beta of 1.07.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Loop Capital restated a “buy” rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Oppenheimer lowered their target price on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Finally, Barclays dropped their price target on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $59.18.
Read Our Latest Stock Analysis on BRZE
Insider Transactions at Braze
In other news, General Counsel Susan Wiseman sold 3,558 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $38.41, for a total value of $136,662.78. Following the completion of the transaction, the general counsel now owns 221,840 shares in the company, valued at approximately $8,520,874.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, General Counsel Susan Wiseman sold 3,558 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $38.41, for a total transaction of $136,662.78. Following the transaction, the general counsel now directly owns 221,840 shares in the company, valued at $8,520,874.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 1,381 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total transaction of $56,786.72. Following the sale, the chief accounting officer now owns 72,980 shares of the company’s stock, valued at approximately $3,000,937.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,965 shares of company stock valued at $7,878,650. Corporate insiders own 24.03% 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.
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