Sincerus Advisory LLC Invests $854,000 in Braze, Inc. (NASDAQ:BRZE)

Sincerus Advisory LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 20,402 shares of the company's stock, valued at approximately $854,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV grew its position in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company's stock valued at $68,000 after buying an additional 615 shares during the last quarter. Amalgamated Bank grew its position 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 during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Braze during the 4th quarter worth $165,000. Moody National Bank Trust Division purchased a new stake in shares of Braze during the 4th quarter worth $233,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Braze during the 4th quarter worth $236,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 3,486 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the completion of the transaction, the general counsel now owns 182,109 shares of the company's stock, valued at $7,288,002.18. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 4,656 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $43.65, for a total transaction of $203,234.40. Following the transaction, the chief accounting officer now directly owns 58,484 shares of the company's stock, valued at approximately $2,552,826.60. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,581 shares of company stock valued at $8,059,840. 24.03% of the stock is owned by insiders.

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Braze Stock Performance

BRZE stock traded up $0.66 during trading on Friday, hitting $36.98. The stock had a trading volume of 1,507,746 shares, compared to its average volume of 1,134,227. The company's 50 day moving average price is $42.87 and its two-hundred day moving average price is $39.00. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $57.72. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -32.44 and a beta of 1.13.

Wall Street Analyst Weigh In

Several brokerages have commented on BRZE. Piper Sandler boosted their target price on shares of Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Braze in a research report on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Braze from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 26th. Macquarie boosted their target price on shares of Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. Finally, DA Davidson decreased their target price on shares of Braze from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Braze presently has an average rating of "Moderate Buy" and a consensus price target of $53.74.

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.