Proficio Capital Partners LLC Buys New Shares in Braze, Inc. (NASDAQ:BRZE)

Proficio Capital Partners LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 11,894 shares of the company's stock, valued at approximately $498,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock worth $58,489,000 after acquiring an additional 1,075,998 shares during the last quarter. State Street Corp increased its holdings in shares of Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company's stock valued at $50,958,000 after purchasing an additional 279,050 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company's stock valued at $48,428,000 after purchasing an additional 229,660 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Braze by 69.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company's stock worth $48,319,000 after buying an additional 612,400 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Braze by 20.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company's stock worth $32,343,000 after buying an additional 129,298 shares during the period. Institutional investors own 90.47% of the company's stock.

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Braze Stock Down 7.0 %

Shares of BRZE stock traded down $2.49 on Thursday, reaching $33.11. The company had a trading volume of 890,617 shares, compared to its average volume of 1,189,459. The stock has a market capitalization of $3.43 billion, a PE ratio of -29.04 and a beta of 1.17. The business's 50-day moving average is $41.39 and its 200 day moving average is $38.49. Braze, Inc. has a one year low of $29.18 and a one year high of $55.47.

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 2,100 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.00, for a total value of $94,500.00. Following the completion of the transaction, the insider now directly owns 184,396 shares in the company, valued at approximately $8,297,820. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Pankaj Malik sold 3,955 shares of Braze stock in a transaction dated 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 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 worth $8,059,840 over the last quarter. Corporate insiders own 24.03% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on BRZE. Citigroup increased their price target on shares of Braze from $47.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. William Blair reissued an "outperform" rating on shares of Braze in a report on Thursday, December 19th. Stifel Nicolaus upped their price objective on Braze from $37.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Piper Sandler boosted their target price on shares of Braze from $40.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Braze from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $53.74.

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.