Braze, Inc. (NASDAQ:BRZE) Shares Purchased by Swiss National Bank

Swiss National Bank raised its position in Braze, Inc. (NASDAQ:BRZE) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 121,600 shares of the company’s stock after acquiring an additional 8,100 shares during the quarter. Swiss National Bank’s holdings in Braze were worth $5,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Braze by 185.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 71,535 shares of the company’s stock valued at $2,996,000 after purchasing an additional 46,452 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 worth $39,000 after acquiring an additional 928 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Braze by 38.7% in the fourth quarter. HighTower Advisors LLC now owns 11,007 shares of the company’s stock worth $461,000 after acquiring an additional 3,071 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of Braze by 16.9% during the fourth quarter. King Luther Capital Management Corp now owns 122,887 shares of the company’s stock worth $5,147,000 after acquiring an additional 17,731 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Braze by 9.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,647 shares of the company’s stock valued at $823,000 after acquiring an additional 1,743 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total transaction of $64,695.00. Following the completion of the transaction, the director now owns 15,269 shares in the company, valued at approximately $658,551.97. This represents a 8.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 3,700 shares of Braze 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 sale, the chief accounting officer now directly owns 54,784 shares in the company, valued at approximately $2,507,463.68. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,470 shares of company stock worth $3,841,921. Company insiders own 24.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BRZE shares. Stifel Nicolaus upped their price target on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of Braze from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday. Macquarie boosted their price target on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Stephens began coverage on shares of Braze in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective on the stock. Finally, DA Davidson decreased their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $52.45.

Braze Price Performance

BRZE stock opened at $38.11 on Tuesday. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $52.26. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -33.43 and a beta of 1.17. The company has a fifty day moving average price of $40.13 and a 200 day moving average price of $37.96.

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.