Rhumbline Advisers Sells 984 Shares of Braze, Inc. (NASDAQ:BRZE)

Rhumbline Advisers cut its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,657 shares of the company’s stock after selling 984 shares during the quarter. Rhumbline Advisers owned 0.08% of Braze worth $3,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after purchasing an additional 1,075,998 shares during the last quarter. Stephens Investment Management Group LLC bought a new stake in shares of Braze in the 3rd quarter worth approximately $20,794,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Braze by 69.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after buying an additional 612,400 shares during the period. State Street Corp raised its holdings in shares of Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after acquiring an additional 279,050 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Stock Up 1.8 %

Shares of NASDAQ:BRZE opened at $36.98 on Friday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $57.72. The firm’s 50 day moving average price is $42.87 and its 200-day moving average price is $39.00. The stock has a market capitalization of $3.83 billion, a PE ratio of -32.44 and a beta of 1.13.

Insider Activity at Braze

In other Braze news, CAO Pankaj Malik sold 4,656 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $43.65, for a total value of $203,234.40. Following the sale, the chief accounting officer now owns 58,484 shares in the company, valued at $2,552,826.60. The trade was a 7.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Magnuson sold 18,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now owns 564,766 shares of the company’s stock, valued at $23,053,748.12. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,581 shares of company stock worth $8,059,840. 24.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BRZE. DA Davidson reduced their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Oppenheimer reiterated an “outperform” rating and set a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. Macquarie increased their price target on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Citigroup lifted their price objective on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group decreased their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.74.

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.