Handelsbanken Fonder AB Has $674,000 Stake in Braze, Inc. (NASDAQ:BRZE)

Handelsbanken Fonder AB grew its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 73.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,100 shares of the company's stock after purchasing an additional 6,800 shares during the period. Handelsbanken Fonder AB's holdings in Braze were worth $674,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. KBC Group NV boosted its position in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company's stock valued at $68,000 after purchasing an additional 615 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of 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 buying an additional 358 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Braze in the 4th quarter valued at approximately $165,000. Moody National Bank Trust Division acquired a new position in Braze in the fourth quarter worth approximately $233,000. Finally, Principal Financial Group Inc. acquired a new position in Braze in the fourth quarter worth approximately $236,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Braze

In other news, insider Myles Kleeger sold 8,365 shares of Braze stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.12, for a total transaction of $335,603.80. Following the sale, the insider now directly owns 168,882 shares in the company, valued at approximately $6,775,545.84. The trade was a 4.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Susan Wiseman sold 3,486 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the completion of the sale, the general counsel now directly owns 182,109 shares in the company, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,581 shares of company stock worth $8,059,840. 24.03% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

BRZE has been the subject of several recent research reports. The Goldman Sachs Group decreased their target price on shares of Braze from $65.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. DA Davidson decreased their price objective on shares of Braze from $55.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, December 10th. 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, December 10th. Oppenheimer reaffirmed an "outperform" rating and issued a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered their price objective on Braze from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat, Braze has an average rating of "Moderate Buy" and a consensus target price of $53.74.

Braze Stock Up 1.7 %

NASDAQ BRZE traded up $0.62 during midday trading on Wednesday, hitting $36.48. The company had a trading volume of 1,636,947 shares, compared to its average volume of 1,185,672. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $55.47. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -32.00 and a beta of 1.13. The firm has a fifty day simple moving average of $42.40 and a two-hundred day simple moving average of $38.86.

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.