XTX Topco Ltd Purchases Shares of 28,562 Braze, Inc. (NASDAQ:BRZE)

XTX Topco Ltd purchased a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 28,562 shares of the company's stock, valued at approximately $924,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC bought a new stake in shares of Braze during the third quarter worth approximately $20,794,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Braze by 69.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company's stock valued at $48,319,000 after purchasing an additional 612,400 shares during the period. Granite Investment Partners LLC bought a new position in shares of Braze in the second quarter valued at about $12,925,000. State Street Corp increased its position in Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company's stock worth $50,958,000 after acquiring an additional 279,050 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Braze during the second quarter worth about $10,166,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Braze

In other news, CEO William Magnuson sold 17,933 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $617,791.85. Following the sale, the chief executive officer now directly owns 582,816 shares of the company's stock, valued at $20,078,011.20. This represents a 2.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Pankaj Malik sold 3,432 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the sale, the chief accounting officer now owns 67,095 shares in the company, valued at $2,311,422.75. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,979 shares of company stock worth $3,688,914. 24.03% of the stock is owned by company insiders.

Braze Price Performance

Shares of NASDAQ:BRZE traded up $1.43 during mid-day trading on Wednesday, reaching $42.38. 1,375,654 shares of the company traded hands, compared to its average volume of 1,080,317. The company's 50 day moving average price is $34.46 and its 200-day moving average price is $37.25. The firm has a market cap of $4.35 billion, a PE ratio of -37.18 and a beta of 1.15. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Macquarie raised their price target on shares of Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $51.00 price target on shares of Braze in a research report on Tuesday. TD Cowen decreased their price objective on shares of Braze from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, September 24th. The Goldman Sachs Group decreased their price objective on shares of Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their price objective 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. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently 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.