Proficio Capital Partners LLC Takes Position in Braze, Inc. (NASDAQ:BRZE)

Proficio Capital Partners LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE) in the 4th quarter, Holdings Channel.com reports. The fund acquired 11,894 shares of the company’s stock, valued at approximately $498,000.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Braze during the 4th quarter worth about $47,000. Plato Investment Management Ltd acquired a new position in shares of Braze in the fourth quarter worth approximately $115,000. KBC Group NV boosted its holdings in Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after acquiring an additional 832 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Braze during the 4th quarter valued at approximately $165,000. Finally, Moody National Bank Trust Division bought a new position in Braze during the 4th quarter worth approximately $233,000. Institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

BRZE stock opened at $38.11 on Tuesday. The business has a 50-day simple moving average of $40.13 and a two-hundred day simple moving average of $37.96. The company has a market capitalization of $3.94 billion, a P/E ratio of -33.43 and a beta of 1.17. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $52.26.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Raymond James cut their price target on shares of Braze from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, March 20th. Wells Fargo & Company dropped their price objective on Braze from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday. William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $52.45.

Insider Activity

In other Braze news, CEO William Magnuson sold 18,050 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the transaction, the general counsel now directly owns 189,520 shares in the company, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock worth $3,841,921 over the last 90 days. 24.03% of the stock is currently owned by corporate insiders.

About Braze

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.