Braze, Inc. (NASDAQ:BRZE) Stock Position Lifted by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC increased its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 772,268 shares of the company's stock after purchasing an additional 129,298 shares during the period. Stephens Investment Management Group LLC owned 0.75% of Braze worth $32,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BRZE. Charles Schwab Investment Management Inc. raised its stake in shares of Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company's stock valued at $16,486,000 after purchasing an additional 57,713 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Braze by 5.0% during the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company's stock valued at $13,309,000 after purchasing an additional 19,567 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Braze by 195.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company's stock valued at $2,512,000 after acquiring an additional 51,411 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Braze in the 3rd quarter valued at approximately $673,000. Finally, Holocene Advisors LP lifted its position in shares of Braze by 52.7% in the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company's stock valued at $2,729,000 after acquiring an additional 29,123 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Susan Wiseman sold 41,210 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $45.09, for a total value of $1,858,158.90. Following the transaction, the general counsel now owns 199,520 shares in the company, valued at $8,996,356.80. The trade was a 17.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Myles Kleeger sold 37,900 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the completion of the transaction, the insider now owns 184,396 shares in the company, valued at $8,318,103.56. This trade represents a 17.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,583 shares of company stock valued at $7,797,668. 24.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BRZE has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their target price on shares of Braze from $65.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their target price on shares of Braze from $65.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 26th. Stifel Nicolaus increased their price target on shares of Braze from $37.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. 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. Finally, Citigroup raised their price objective on shares of Braze from $47.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Braze presently has an average rating of "Moderate Buy" and an average target price of $53.74.

Braze Stock Down 3.2 %

Shares of BRZE stock traded down $1.37 during trading on Wednesday, hitting $41.02. The company had a trading volume of 928,558 shares, compared to its average volume of 1,161,823. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -35.98 and a beta of 1.13. The stock's 50-day moving average is $43.49 and its two-hundred day moving average is $39.03. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $59.98.

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.