5,629 Shares in Braze, Inc. (NASDAQ:BRZE) Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new position in Braze, Inc. (NASDAQ:BRZE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,629 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Braze by 146.9% in the third 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. State Street Corp increased its stake 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 buying an additional 279,050 shares during the period. Geode Capital Management LLC increased its stake in shares of Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares during the period. 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. Finally, Stephens Investment Management Group LLC increased its stake in shares of Braze by 20.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock valued at $32,343,000 after buying an additional 129,298 shares during the period. Institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Braze in a research note on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price target on Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. DA Davidson reduced their price target on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group reduced their price target on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Braze presently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Insider Buying and Selling

In related news, CTO Jonathan Hyman sold 5,210 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the sale, the chief technology officer now directly owns 157,810 shares of the company’s stock, valued at approximately $6,441,804.20. This trade represents a 3.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the sale, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 183,581 shares of company stock valued at $8,059,840. Insiders own 24.03% of the company’s stock.

Braze Price Performance

NASDAQ:BRZE opened at $33.74 on Friday. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $55.47. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -29.60 and a beta of 1.17. The business has a 50 day simple moving average of $42.07 and a 200-day simple moving average of $38.81.

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.