New York State Common Retirement Fund Sells 25,509 Shares of Braze, Inc. (NASDAQ:BRZE)

New York State Common Retirement Fund lowered its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,010 shares of the company's stock after selling 25,509 shares during the period. New York State Common Retirement Fund owned approximately 0.20% of Braze worth $8,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company's stock worth $16,486,000 after buying an additional 57,713 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Braze by 195.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company's stock worth $2,512,000 after buying an additional 51,411 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company's stock worth $13,309,000 after purchasing an additional 19,567 shares during the period. Intech Investment Management LLC bought a new position in shares of Braze in the third quarter worth about $673,000. Finally, Holocene Advisors LP increased its stake in shares of Braze by 52.7% in the third quarter. Holocene Advisors LP now owns 84,383 shares of the company's stock worth $2,729,000 after purchasing an additional 29,123 shares during the period. Institutional investors and hedge funds own 90.47% of the company's stock.

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Analyst Ratings Changes

A number of research firms have recently commented on BRZE. Oppenheimer reiterated an "outperform" rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. Citigroup lifted their price objective on Braze from $47.00 to $51.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Macquarie lifted their price objective on Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. The Goldman Sachs Group dropped their price objective on Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their price objective on Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Braze presently has an average rating of "Moderate Buy" and a consensus target price of $53.74.

Braze Stock Performance

Shares of BRZE stock traded up $0.66 during trading hours on Friday, hitting $36.98. The company had a trading volume of 1,507,746 shares, compared to its average volume of 1,134,227. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $57.72. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -32.44 and a beta of 1.13. The firm's fifty day moving average is $42.87 and its 200 day moving average is $39.00.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 3,486 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the transaction, the general counsel now directly owns 182,109 shares of the company's stock, valued at $7,288,002.18. The trade was a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Pankaj Malik sold 3,955 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $41.41, for a total value of $163,776.55. Following the completion of the transaction, the chief accounting officer now directly owns 63,140 shares in the company, valued at $2,614,627.40. The trade was a 5.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,581 shares of company stock valued at $8,059,840 in the last three months. 24.03% of the stock is owned by corporate insiders.

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.