Braze, Inc. (NASDAQ:BRZE) Holdings Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 185.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,535 shares of the company's stock after acquiring an additional 46,452 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Braze worth $2,996,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Braze in the fourth quarter valued at approximately $47,000. KBC Group NV raised its holdings in Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company's stock valued at $68,000 after buying an additional 615 shares during the period. Amalgamated Bank raised its holdings in Braze by 18.9% in the third 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, Plato Investment Management Ltd purchased a new position in Braze in the fourth quarter valued at approximately $115,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Jonathan Hyman sold 5,210 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the transaction, the chief technology officer now owns 157,810 shares of the company's stock, valued at approximately $6,441,804.20. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 14,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.52, for a total transaction of $637,280.00. Following the transaction, the general counsel now directly owns 199,520 shares of the company's stock, valued at approximately $9,082,150.40. This trade represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,470 shares of company stock valued at $3,841,921. 24.03% of the stock is currently owned by company insiders.

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Braze Stock Performance

Shares of BRZE traded up $0.98 during midday trading on Friday, hitting $37.03. 1,820,398 shares of the stock traded hands, compared to its average volume of 1,119,880. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $55.47. The firm has a market capitalization of $3.83 billion, a PE ratio of -32.48 and a beta of 1.17. The business's 50 day moving average price is $40.31 and its two-hundred day moving average price is $38.13.

Analyst Ratings Changes

Several research firms recently commented on BRZE. Macquarie raised their price target on shares of Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of Braze in a research note on Monday, February 3rd. Stifel Nicolaus lifted their price objective on shares of Braze from $37.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Raymond James dropped their price objective on shares of Braze from $48.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Piper Sandler lifted their price objective on shares of Braze from $40.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $52.45.

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.