Sciencast Management LP Invests $576,000 in Braze, Inc. (NASDAQ:BRZE)

Sciencast Management LP acquired a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,760 shares of the company's stock, valued at approximately $576,000.

Other institutional investors also recently made changes to their positions in the company. Xponance Inc. acquired a new stake in Braze in the fourth quarter valued at $201,000. Intech Investment Management LLC raised its stake in Braze by 62.9% during the fourth quarter. Intech Investment Management LLC now owns 33,902 shares of the company's stock valued at $1,420,000 after buying an additional 13,096 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Braze in the 4th quarter worth approximately $708,000. Cibc World Markets Corp bought a new stake in shares of Braze in the 4th quarter valued at approximately $258,000. Finally, Swiss National Bank lifted its stake in Braze by 7.1% during the fourth quarter. Swiss National Bank now owns 121,600 shares of the company's stock worth $5,093,000 after purchasing an additional 8,100 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Trading Down 1.7 %

BRZE stock traded down $0.63 during trading hours on Thursday, hitting $36.70. 2,218,992 shares of the stock traded hands, compared to its average volume of 1,127,925. The stock has a 50-day simple moving average of $39.94 and a 200 day simple moving average of $37.98. Braze, Inc. has a one year low of $29.18 and a one year high of $50.84. The company has a market cap of $3.80 billion, a P/E ratio of -32.19 and a beta of 1.17.

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Insider Transactions at Braze

In other Braze news, CAO Pankaj Malik sold 3,700 shares of Braze stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $45.77, for a total value of $169,349.00. Following the transaction, the chief accounting officer now owns 54,784 shares in the company, valued at approximately $2,507,463.68. The trade was a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jonathan Hyman sold 5,210 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $212,672.20. Following the completion of the transaction, the chief technology officer now directly owns 157,810 shares in the company, valued at $6,441,804.20. This represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock valued at $3,841,921 in the last quarter. Insiders own 24.03% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on BRZE shares. William Blair reiterated an "outperform" rating on shares of Braze in a research note on Thursday, December 19th. Stifel Nicolaus increased their price objective on shares of Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Canaccord Genuity Group set a $45.00 target price on shares of Braze in a report on Wednesday. DA Davidson reaffirmed a "buy" rating and set a $50.00 target price on shares of Braze in a report on Wednesday. Finally, Piper Sandler raised their price target on Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Braze presently has a consensus rating of "Buy" and a consensus target price of $52.05.

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.