Bank of New York Mellon Corp Has $14.34 Million Stake in Braze, Inc. (NASDAQ:BRZE)

Bank of New York Mellon Corp decreased its stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 21.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 342,513 shares of the company's stock after selling 96,210 shares during the period. Bank of New York Mellon Corp owned about 0.33% of Braze worth $14,344,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. KBC Group NV lifted its position in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company's stock worth $68,000 after purchasing an additional 615 shares during the last quarter. Amalgamated Bank lifted its holdings 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 last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Braze in the fourth quarter worth about $165,000. Moody National Bank Trust Division bought a new position in Braze in the fourth quarter worth about $233,000. Finally, Principal Financial Group Inc. bought a new position in Braze in the fourth quarter worth about $236,000. Institutional investors own 90.47% of the company's stock.

Braze Price Performance

Shares of NASDAQ BRZE traded up $2.17 during mid-day trading on Friday, reaching $35.28. 1,097,140 shares of the company traded hands, compared to its average volume of 1,195,110. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $55.47. The firm has a market cap of $3.65 billion, a PE ratio of -30.95 and a beta of 1.17. The stock has a fifty day simple moving average of $41.00 and a 200-day simple moving average of $38.33.

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Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. William Blair reissued an "outperform" rating on shares of Braze in a report on Thursday, December 19th. Stifel Nicolaus raised their target price on shares of Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Oppenheimer reissued an "outperform" rating and issued a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Wells Fargo & Company cut their target price on shares of Braze from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, November 26th. Finally, Macquarie raised their target price on shares of Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Braze has an average rating of "Moderate Buy" and an average price target of $53.74.

Insider Activity at Braze

In other Braze news, CEO William Magnuson sold 18,050 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. The trade was a 3.10 % 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, insider Myles Kleeger sold 2,100 shares of Braze stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.00, for a total transaction of $94,500.00. Following the completion of the transaction, the insider now owns 184,396 shares in the company, valued at approximately $8,297,820. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,126 shares of company stock worth $7,833,033 over the last quarter. 24.03% of the stock is currently owned by company insiders.

Braze Company 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.