JPMorgan Chase & Co. Has $58.49 Million Holdings in Braze, Inc. (NASDAQ:BRZE)

JPMorgan Chase & Co. boosted its position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 146.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,808,577 shares of the company's stock after purchasing an additional 1,075,998 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.75% of Braze worth $58,489,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Braze in the 2nd quarter worth about $50,000. KBC Group NV raised its position in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company's stock worth $68,000 after acquiring an additional 615 shares during 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 valued at $73,000 after buying an additional 358 shares in the last quarter. Evoke Wealth LLC acquired a new stake in shares of Braze during the 2nd quarter worth about $215,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Braze in the 2nd quarter worth approximately $229,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Trading Up 3.4 %

Shares of Braze stock traded up $1.48 during trading on Friday, reaching $44.87. The stock had a trading volume of 2,295,733 shares, compared to its average volume of 1,675,866. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of -39.36 and a beta of 1.15. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53. The stock has a fifty day moving average price of $38.99 and a two-hundred day moving average price of $38.02.

Insider Buying and Selling at Braze

In related news, General Counsel Susan Wiseman sold 41,210 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $45.09, for a total transaction of $1,858,158.90. Following the completion of the transaction, the general counsel now directly owns 199,520 shares of the company's stock, valued at approximately $8,996,356.80. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares of the company's stock, valued at approximately $1,720,244.10. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 203,590 shares of company stock worth $7,762,293. Corporate insiders own 24.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BRZE shares. TD Cowen dropped their target price on shares of Braze from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, September 24th. Piper Sandler increased their target price on Braze from $40.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their price target on Braze from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Tuesday, November 26th. UBS Group lowered their target price on shares of Braze from $56.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Finally, Stifel Nicolaus raised their price target on Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.