Fmr LLC Boosts Stock Position in Braze, Inc. (NASDAQ:BRZE)

Fmr LLC increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 393.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,829 shares of the company’s stock after buying an additional 9,430 shares during the period. Fmr LLC’s holdings in Braze were worth $383,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stephens Investment Management Group LLC bought a new stake in shares of Braze in the 3rd quarter worth about $20,794,000. Granite Investment Partners LLC bought a new stake in Braze during the second quarter worth approximately $12,925,000. Point72 Asset Management L.P. bought a new stake in Braze during the second quarter worth approximately $10,166,000. Peregrine Capital Management LLC purchased a new stake in Braze during the second quarter valued at approximately $7,349,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Braze by 78.1% in the 2nd quarter. Renaissance Technologies LLC now owns 371,600 shares of the company’s stock valued at $14,433,000 after purchasing an additional 163,000 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total value of $144,540.00. Following the completion of the sale, the chief financial officer now owns 216,208 shares in the company, valued at approximately $6,944,600.96. The trade was a 2.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the sale, the director now directly owns 8,937 shares of the company’s stock, valued at $273,919.05. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,980 shares of company stock worth $4,339,005. 24.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Loop Capital reissued a “buy” rating and set a $75.00 target price on shares of Braze in a research report on Tuesday, September 24th. Stifel Nicolaus lifted their price objective on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group reduced their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price target 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. Finally, William Blair reiterated an “outperform” rating on shares of Braze in a report on Thursday. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.74.

Braze Stock Up 1.5 %

Shares of NASDAQ:BRZE opened at $44.00 on Friday. The business’s 50 day moving average is $36.25 and its 200 day moving average is $37.46. The stock has a market cap of $4.52 billion, a P/E ratio of -38.60 and a beta of 1.15. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53.

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.