US Bancorp DE Sells 4,725 Shares of Braze, Inc. (NASDAQ:BRZE)

US Bancorp DE trimmed its position in shares of Braze, Inc. (NASDAQ:BRZE) by 18.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,012 shares of the company’s stock after selling 4,725 shares during the quarter. US Bancorp DE’s holdings in Braze were worth $880,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Braze by 3.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after purchasing an additional 346 shares during the period. Amalgamated Bank lifted its stake in Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares during the period. KBC Group NV grew its holdings in Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Braze by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 36,344 shares of the company’s stock worth $1,175,000 after buying an additional 1,751 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Braze by 7.6% in the third quarter. Assetmark Inc. now owns 27,181 shares of the company’s stock valued at $879,000 after purchasing an additional 1,923 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Price Performance

Shares of Braze stock opened at $33.74 on Monday. The business has a 50 day simple moving average of $41.88 and a two-hundred day simple moving average of $38.67. The stock has a market capitalization of $3.49 billion, a P/E ratio of -29.60 and a beta of 1.17. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $55.47.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BRZE. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Citigroup boosted their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. DA Davidson decreased their target price on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Wells Fargo & Company dropped their target price on Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group reduced their price target on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

Insider Activity at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $42.02, for a total transaction of $63,030.00. Following the completion of the sale, the director now owns 15,269 shares in the company, valued at $641,603.38. This trade represents a 8.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Pankaj Malik sold 3,955 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $41.41, for a total value of $163,776.55. Following the sale, the chief accounting officer now directly owns 63,140 shares of the company’s stock, valued at $2,614,627.40. The trade was a 5.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,581 shares of company stock valued at $8,059,840. Corporate insiders own 24.03% of the company’s stock.

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.