Fmr LLC Acquires 9,430 Shares of Braze, Inc. (NASDAQ:BRZE)

Fmr LLC boosted its holdings in Braze, Inc. (NASDAQ:BRZE) by 393.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,829 shares of the company’s stock after buying an additional 9,430 shares during the quarter. Fmr LLC’s holdings in Braze were worth $383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in shares of Braze by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 36,344 shares of the company’s stock worth $1,175,000 after acquiring an additional 1,751 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in Braze by 195.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after purchasing an additional 51,411 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after purchasing an additional 57,713 shares during the period. Intech Investment Management LLC purchased a new stake in Braze during the 3rd quarter valued at $673,000. Finally, King Luther Capital Management Corp lifted its holdings in shares of Braze by 17.4% during the 3rd quarter. King Luther Capital Management Corp now owns 105,156 shares of the company’s stock valued at $3,401,000 after buying an additional 15,583 shares during the period. Institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 4,656 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $43.65, for a total transaction of $203,234.40. Following the completion of the transaction, the chief accounting officer now directly owns 58,484 shares of the company’s stock, valued at approximately $2,552,826.60. This trade represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Myles Kleeger sold 2,100 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.00, for a total transaction of $94,500.00. Following the completion of the sale, the insider now owns 184,396 shares in the company, valued at approximately $8,297,820. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,980 shares of company stock valued at $4,339,005. Corporate insiders own 24.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BRZE shares. TD Cowen cut their price objective on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Citigroup boosted their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. DA Davidson reduced their price target 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. Macquarie raised their price objective on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Stifel Nicolaus boosted their target price on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and an average target price of $53.74.

Braze Stock Up 1.5 %

NASDAQ BRZE opened at $44.00 on Friday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The business has a 50-day moving average price of $36.25 and a 200-day moving average price of $37.46. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -38.60 and a beta of 1.15.

Braze Company 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.