Proficio Capital Partners LLC Makes New Investment in Braze, Inc. (NASDAQ:BRZE)

Proficio Capital Partners LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 11,894 shares of the company’s stock, valued at approximately $498,000.

Several other institutional investors also recently modified their holdings of BRZE. Charles Schwab Investment Management Inc. raised its stake in Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after acquiring an additional 57,713 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of Braze by 195.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after purchasing an additional 51,411 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Braze in the third quarter valued at about $673,000. Holocene Advisors LP lifted its stake in shares of Braze by 52.7% during the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after buying an additional 29,123 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after buying an additional 229,660 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Stock Performance

Shares of BRZE opened at $38.11 on Tuesday. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $52.26. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -33.43 and a beta of 1.17. The business’s fifty day moving average is $40.13 and its 200-day moving average is $37.96.

Insider Buying and Selling at Braze

In related news, insider Myles Kleeger sold 8,365 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the transaction, the insider now owns 168,882 shares of the company’s stock, valued at $6,775,545.84. This represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Susan Wiseman sold 10,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the sale, the general counsel now directly owns 189,520 shares in the company, valued at approximately $8,949,134.40. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock worth $3,841,921 over the last 90 days. Insiders own 24.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup increased their price target on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company lowered their target price on Braze from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Oppenheimer reiterated an “outperform” rating and set a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. Finally, Raymond James reduced their target price on shares of Braze from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $52.45.

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.