King Luther Capital Management Corp Raises Stake in Braze, Inc. (NASDAQ:BRZE)

King Luther Capital Management Corp lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,887 shares of the company's stock after buying an additional 17,731 shares during the quarter. King Luther Capital Management Corp owned about 0.12% of Braze worth $5,147,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in Braze during the 4th quarter worth approximately $47,000. KBC Group NV increased its holdings in Braze by 41.5% during the 3rd 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 period. Amalgamated Bank increased its holdings 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 acquiring an additional 358 shares during the period. Plato Investment Management Ltd bought a new stake in Braze during the 4th quarter worth approximately $115,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Braze during the 4th quarter worth approximately $165,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 4,656 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $43.65, for a total value of $203,234.40. Following the completion of the sale, the chief accounting officer now directly owns 58,484 shares of the company's stock, valued at approximately $2,552,826.60. This trade represents a 7.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jonathan Hyman sold 5,210 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the sale, the chief technology officer now directly owns 157,810 shares of the company's stock, valued at approximately $6,441,804.20. This represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,126 shares of company stock valued at $7,833,033 in the last quarter. Company insiders own 24.03% of the company's stock.

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Braze Price Performance

BRZE traded up $2.17 during trading on Friday, hitting $35.28. 1,097,140 shares of the stock traded hands, compared to its average volume of 1,195,110. The firm has a market capitalization of $3.65 billion, a P/E ratio of -30.95 and a beta of 1.17. The firm has a 50-day moving average of $41.00 and a 200 day moving average of $38.33. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $55.47.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BRZE shares. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Braze in a report on Monday, February 3rd. Oppenheimer reissued an "outperform" rating and issued a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Piper Sandler increased their price target on shares of Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Citigroup increased their price target on shares of Braze from $47.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, DA Davidson decreased their price target on shares of Braze from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Braze currently has an average rating of "Moderate Buy" and a consensus 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.