Vestcor Inc Invests $1.62 Million in Braze, Inc. (NASDAQ:BRZE)

Vestcor Inc acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 50,000 shares of the company's stock, valued at approximately $1,617,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP acquired a new stake in Braze during the second quarter valued at approximately $50,000. Comerica Bank boosted its holdings in Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company's stock worth $54,000 after buying an additional 276 shares during the last quarter. KBC Group NV boosted its stake 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 during the last quarter. Amalgamated Bank grew its holdings in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company's stock valued at $73,000 after buying an additional 358 shares during the period. Finally, Canton Hathaway LLC increased its holdings in shares of Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company's stock worth $77,000 after acquiring an additional 1,187 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Price Performance

NASDAQ BRZE traded down $0.37 on Thursday, hitting $42.01. 1,278,058 shares of the company's stock were exchanged, compared to its average volume of 1,081,142. The firm's 50-day moving average price is $34.90 and its two-hundred day moving average price is $37.32. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -36.85 and a beta of 1.15. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

Insider Transactions at Braze

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares in the company, valued at $1,720,244.10. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Pankaj Malik sold 3,432 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the transaction, the chief accounting officer now owns 67,095 shares in the company, valued at approximately $2,311,422.75. The trade was a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,979 shares of company stock valued at $3,688,914 in the last ninety days. Corporate insiders own 24.03% of the company's stock.

Wall Street Analyst Weigh In

BRZE has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on Braze from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, September 24th. Stifel Nicolaus boosted their target price on shares of Braze from $37.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday. Piper Sandler boosted their target price on Braze from $40.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday. Macquarie upped their target price on Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Oppenheimer reiterated an "outperform" rating and set a $51.00 target price on shares of Braze in a report on Tuesday. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.