Battery Management Corp. Has $69.53 Million Stake in Braze, Inc. (NASDAQ:BRZE)

Battery Management Corp. trimmed its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 64.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,660,129 shares of the company's stock after selling 3,054,990 shares during the period. Braze makes up about 8.9% of Battery Management Corp.'s investment portfolio, making the stock its 4th largest holding. Battery Management Corp. owned 1.60% of Braze worth $69,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harbor Capital Advisors Inc. boosted its position in shares of Braze by 3.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company's stock valued at $453,000 after buying an additional 346 shares during the last quarter. Amalgamated Bank lifted its stake in Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company's stock valued at $73,000 after acquiring an additional 358 shares during the period. KBC Group NV boosted its holdings in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company's stock valued at $68,000 after acquiring an additional 615 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Braze in the fourth quarter worth approximately $47,000. Finally, Arizona State Retirement System boosted its holdings in Braze by 7.2% in the fourth quarter. Arizona State Retirement System now owns 17,928 shares of the company's stock worth $751,000 after purchasing an additional 1,203 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

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Braze Stock Performance

Shares of Braze stock traded down $1.30 during trading hours on Monday, hitting $32.44. The company's stock had a trading volume of 1,474,653 shares, compared to its average volume of 1,191,868. The company has a market cap of $3.36 billion, a PE ratio of -28.46 and a beta of 1.17. The business has a 50 day moving average price of $41.88 and a two-hundred day moving average price of $38.67. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $55.47.

Analyst Ratings Changes

A number of brokerages have weighed in on BRZE. Macquarie boosted their target price on shares of Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. The Goldman Sachs Group reduced their price objective on Braze from $65.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Stifel Nicolaus increased their target price on Braze from $37.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. DA Davidson cut their price target on Braze from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, December 10th. Finally, William Blair reaffirmed an "outperform" rating on shares of Braze in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.74.

Insiders Place Their Bets

In other news, CAO Pankaj Malik sold 4,656 shares of Braze stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $43.65, for a total value of $203,234.40. Following the sale, the chief accounting officer now directly owns 58,484 shares of the company's stock, valued at approximately $2,552,826.60. The trade was a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 3,486 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.02, for a total value of $139,509.72. Following the transaction, the general counsel now directly owns 182,109 shares of the company's stock, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,581 shares of company stock worth $8,059,840 in the last three months. 24.03% of the stock is owned by company insiders.

About Braze

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.