Barclays PLC Has $3.47 Million Position in Braze, Inc. (NASDAQ:BRZE)

Barclays PLC lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 148.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,358 shares of the company’s stock after buying an additional 64,093 shares during the period. Barclays PLC owned about 0.10% of Braze worth $3,472,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd grew its position in shares of Braze by 566.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 46,099 shares of the company’s stock valued at $1,491,000 after acquiring an additional 39,183 shares during the period. XTX Topco Ltd bought a new position in Braze during the third quarter worth about $924,000. Temasek Holdings Private Ltd acquired a new position in Braze during the third quarter worth approximately $1,243,000. State Street Corp raised its stake in Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after buying an additional 279,050 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Braze in the third quarter valued at approximately $7,294,000. Institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Magnuson sold 17,933 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $617,791.85. Following the completion of the transaction, the chief executive officer now owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. The trade was a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,090 shares of company stock worth $7,906,833. 24.03% of the stock is currently owned by company insiders.

Braze Stock Down 2.0 %

NASDAQ BRZE opened at $43.43 on Tuesday. The company has a 50-day simple moving average of $36.76 and a two-hundred day simple moving average of $37.57. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of -38.10 and a beta of 1.15.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BRZE. Citigroup raised their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen reduced their target price on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target (down from $70.00) on shares of Braze in a report on Tuesday, December 10th. The Goldman Sachs Group reduced their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Barclays lowered their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Braze has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

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.