Point72 Asset Management L.P. Sells 225,629 Shares of Braze, Inc. (NASDAQ:BRZE)

Point72 Asset Management L.P. cut its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 86.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,107 shares of the company's stock after selling 225,629 shares during the period. Point72 Asset Management L.P.'s holdings in Braze were worth $1,168,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Braze during the second quarter valued at about $50,000. Comerica Bank lifted its position in shares of Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company's stock valued at $54,000 after acquiring an additional 276 shares in the last quarter. KBC Group NV boosted its stake in Braze by 41.5% in the 3rd 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 period. Amalgamated Bank grew its position in Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after purchasing an additional 358 shares in the last quarter. Finally, Canton Hathaway LLC raised its stake in Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company's stock valued at $77,000 after purchasing an additional 1,187 shares during the period. 90.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Pankaj Malik sold 3,432 shares of Braze 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 $2,311,422.75. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,979 shares of company stock valued at $3,688,914. 24.03% of the stock is currently owned by insiders.

Braze Price Performance

Shares of NASDAQ BRZE traded up $1.45 during midday trading on Wednesday, hitting $42.40. The stock had a trading volume of 658,472 shares, compared to its average volume of 1,077,251. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The firm has a market cap of $4.36 billion, a P/E ratio of -37.04 and a beta of 1.15. The company's 50-day simple moving average is $34.46 and its 200 day simple moving average is $37.25.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Macquarie lifted their price target on Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday. 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 report on Tuesday, November 26th. Oppenheimer restated an "outperform" rating and set a $51.00 price target on shares of Braze in a report on Tuesday. Stifel Nicolaus increased their target price on shares of Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Citigroup boosted their price target on shares of Braze from $47.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.