Geode Capital Management LLC Has $48.43 Million Position in Braze, Inc. (NASDAQ:BRZE)

Geode Capital Management LLC boosted its stake in Braze, Inc. (NASDAQ:BRZE) by 18.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,497,188 shares of the company’s stock after purchasing an additional 229,660 shares during the period. Geode Capital Management LLC owned about 1.46% of Braze worth $48,428,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BRZE. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 57,713 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Braze during the second quarter valued at about $10,166,000. Victory Capital Management Inc. boosted its position in Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after purchasing an additional 19,567 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Braze in the second quarter valued at about $971,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Braze by 195.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after buying an additional 51,411 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Price Performance

NASDAQ:BRZE opened at $43.43 on Tuesday. The firm has a 50 day simple moving average of $36.76 and a 200-day simple moving average of $37.57. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The firm has a market cap of $4.49 billion, a PE ratio of -38.10 and a beta of 1.15.

Insider Activity at Braze

In other Braze news, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Myles Kleeger sold 37,900 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the sale, the insider now directly owns 184,396 shares of the company’s stock, valued at approximately $8,318,103.56. This represents a 17.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,090 shares of company stock worth $7,906,833. 24.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup increased their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their price target on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Loop Capital restated a “buy” rating and issued a $75.00 target price on shares of Braze in a research note on Tuesday, September 24th. Macquarie increased their target price on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, DA Davidson lowered their price target on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze 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.