Ieq Capital LLC Sells 16,467 Shares of Braze, Inc. (NASDAQ:BRZE)

Ieq Capital LLC reduced its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,975 shares of the company's stock after selling 16,467 shares during the period. Ieq Capital LLC owned approximately 0.21% of Braze worth $9,045,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BRZE. KBC Group NV lifted its holdings in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company's stock worth $68,000 after buying an additional 615 shares in the last quarter. Amalgamated Bank lifted its stake in Braze by 18.9% in 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. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Braze in the 4th quarter valued at $165,000. Moody National Bank Trust Division bought a new position in shares of Braze in the fourth quarter worth $233,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Braze in the fourth quarter worth $236,000. Institutional investors own 90.47% of the company's stock.

Braze Stock Performance

BRZE stock traded down $1.11 on Friday, reaching $39.55. The company's stock had a trading volume of 1,282,648 shares, compared to its average volume of 1,131,893. The firm has a market cap of $4.09 billion, a PE ratio of -34.69 and a beta of 1.13. The business has a fifty day simple moving average of $43.42 and a two-hundred day simple moving average of $39.03. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $59.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Braze in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of Braze from $55.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Citigroup raised their price target on Braze from $47.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Oppenheimer reiterated an "outperform" rating and issued a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group decreased their price objective on Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.74.

Insider Transactions at Braze

In other news, insider Myles Kleeger sold 8,365 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the transaction, the insider now owns 168,882 shares of the company's stock, valued at approximately $6,775,545.84. This represents 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, CAO Pankaj Malik sold 3,955 shares of Braze stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $41.41, for a total value of $163,776.55. Following the sale, the chief accounting officer now owns 63,140 shares in the company, valued at $2,614,627.40. This represents a 5.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,581 shares of company stock valued at $8,059,840. Company insiders own 24.03% of the company's stock.

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.