Victory Capital Management Inc. Has $10.51 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Victory Capital Management Inc. decreased its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 39.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,912 shares of the company’s stock after selling 160,632 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of Braze worth $10,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Braze in the 4th quarter valued at approximately $47,000. KBC Group NV raised its holdings in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares in the last quarter. Amalgamated Bank lifted its position in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after buying an additional 358 shares during the period. Plato Investment Management Ltd acquired a new stake in Braze in the 4th quarter valued at $115,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Braze in the fourth quarter valued at $165,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Trading Down 7.0 %

Shares of NASDAQ BRZE opened at $33.11 on Friday. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $55.47. The firm’s 50-day moving average is $41.39 and its 200-day moving average is $38.49. The firm has a market capitalization of $3.43 billion, a PE ratio of -29.04 and a beta of 1.17.

Analyst Upgrades and Downgrades

BRZE has been the topic of several analyst reports. Citigroup upped their target price on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Monday, February 3rd. Finally, Stifel Nicolaus raised their price target on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.74.

Insider Activity at Braze

In related news, CEO William Magnuson sold 18,050 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Pankaj Malik sold 4,656 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $43.65, for a total value of $203,234.40. Following the completion of the transaction, the chief accounting officer now directly owns 58,484 shares in the company, valued at $2,552,826.60. The trade was a 7.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,126 shares of company stock worth $7,833,033 over the last ninety days. Company insiders own 24.03% of the company’s stock.

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.