Cibc World Markets Corp Invests $258,000 in Braze, Inc. (NASDAQ:BRZE)

Cibc World Markets Corp purchased a new stake in Braze, Inc. (NASDAQ:BRZE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,169 shares of the company’s stock, valued at approximately $258,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares during the period. SBI Securities Co. Ltd. purchased a new position in Braze in the 4th quarter valued at $47,000. Plato Investment Management Ltd acquired a new position in Braze in the 4th quarter valued at $115,000. KBC Group NV raised its position in Braze by 39.7% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after buying an additional 832 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Braze in the 4th quarter worth $165,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Braze

In other news, CAO Pankaj Malik sold 3,700 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.77, for a total transaction of $169,349.00. Following the completion of the transaction, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at $2,507,463.68. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Susan Wiseman sold 3,486 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.02, for a total transaction of $139,509.72. Following the transaction, the general counsel now owns 182,109 shares in the company, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,470 shares of company stock valued at $3,841,921. 24.03% of the stock is owned by insiders.

Braze Stock Performance

Braze stock opened at $39.14 on Wednesday. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of -34.33 and a beta of 1.17. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $51.20. The stock has a fifty day moving average of $40.07 and a two-hundred day moving average of $37.99.

Analysts Set New Price Targets

BRZE has been the subject of several analyst reports. Stephens initiated coverage on shares of Braze in a report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price target for the company. Piper Sandler increased their target price on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Raymond James decreased their price target on Braze from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, March 20th. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Braze in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $52.45.

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.