Swiss National Bank Grows Position in Braze, Inc. (NASDAQ:BRZE)

Swiss National Bank grew its position in shares of Braze, Inc. (NASDAQ:BRZE) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,600 shares of the company’s stock after purchasing an additional 8,100 shares during the quarter. Swiss National Bank owned approximately 0.12% of Braze worth $5,093,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BRZE. JPMorgan Chase & Co. increased its holdings 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 buying an additional 1,075,998 shares in the last quarter. State Street Corp increased its stake in shares of Braze by 21.5% in the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after purchasing an additional 279,050 shares in the last quarter. Geode Capital Management LLC raised its holdings in Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after purchasing an additional 229,660 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in 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 worth $48,319,000 after purchasing an additional 612,400 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in Braze by 20.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock valued at $32,343,000 after purchasing an additional 129,298 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BRZE. DA Davidson decreased their target price on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Stephens initiated coverage on shares of Braze in a report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price objective on the stock. Macquarie boosted their target price 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Monday, February 3rd. Finally, Citigroup lifted their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Braze has an average rating of “Buy” and a consensus target price of $52.45.

Braze Trading Up 2.9 %

Shares of BRZE opened at $38.11 on Tuesday. The firm has a 50-day moving average price of $40.13 and a 200 day moving average price of $37.96. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $52.26. The firm has a market capitalization of $3.94 billion, a P/E ratio of -33.43 and a beta of 1.17.

Insider Activity

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total transaction of $64,695.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at $658,551.97. This trade represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Magnuson sold 18,050 shares of the business’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 transaction of $736,801.00. Following the completion of the sale, the chief executive officer now directly owns 564,766 shares in the company, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock valued at $3,841,921 in the last 90 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.