Stifel Financial Corp Sells 1,013 Shares of Braze, Inc. (NASDAQ:BRZE)

Stifel Financial Corp lessened its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 5.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,225 shares of the company’s stock after selling 1,013 shares during the quarter. Stifel Financial Corp’s holdings in Braze were worth $525,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Polar Asset Management Partners Inc. acquired a new stake in shares of Braze during the 3rd quarter valued at $7,294,000. Holocene Advisors LP grew its holdings in shares of Braze by 52.7% during the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after purchasing an additional 29,123 shares during the last quarter. Centiva Capital LP boosted its position in Braze by 22.6% during the 3rd quarter. Centiva Capital LP now owns 31,033 shares of the company’s stock worth $1,004,000 after buying an additional 5,719 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Braze by 42.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,904 shares of the company’s stock worth $579,000 after purchasing an additional 5,355 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Braze by 22.7% in the third quarter. MetLife Investment Management LLC now owns 37,644 shares of the company’s stock valued at $1,217,000 after purchasing an additional 6,955 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Braze

In other Braze news, CEO William Magnuson sold 17,933 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. This trade represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $32.12, for a total transaction of $144,540.00. Following the sale, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at approximately $6,944,600.96. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,090 shares of company stock valued at $7,906,833. 24.03% of the stock is owned by company insiders.

Braze Stock Up 1.1 %

NASDAQ BRZE opened at $44.10 on Friday. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53. The business has a 50 day moving average price of $37.53 and a 200-day moving average price of $37.71. The company has a market cap of $4.56 billion, a price-to-earnings ratio of -38.68 and a beta of 1.15.

Wall Street Analyst Weigh In

A number of research firms have commented on BRZE. Stifel Nicolaus upped their price target on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price (down from $70.00) on shares of Braze in a report on Tuesday, December 10th. Citigroup raised their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Loop Capital reiterated a “buy” rating and set a $75.00 price objective on shares of Braze in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.