Y Intercept Hong Kong Ltd Raises Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Y Intercept Hong Kong Ltd grew its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 566.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,099 shares of the company's stock after buying an additional 39,183 shares during the period. Y Intercept Hong Kong Ltd's holdings in Braze were worth $1,491,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of Braze during the third quarter valued at approximately $924,000. Temasek Holdings Private Ltd purchased a new stake in Braze in the third quarter worth $1,243,000. State Street Corp grew its stake in Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company's stock worth $50,958,000 after purchasing an additional 279,050 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Braze in the third quarter worth $7,294,000. Finally, Holocene Advisors LP grew its stake in 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. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $32.12, for a total value of $144,540.00. Following the transaction, the chief financial officer now owns 216,208 shares of the company's stock, valued at approximately $6,944,600.96. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Magnuson sold 17,933 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $617,791.85. Following the completion of the transaction, the chief executive officer now directly owns 582,816 shares in the company, valued at approximately $20,078,011.20. This represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,979 shares of company stock valued at $3,688,914 over the last ninety days. 24.03% of the stock is currently owned by corporate insiders.

Braze Stock Performance

Shares of NASDAQ:BRZE traded up $1.43 during midday trading on Wednesday, reaching $42.38. 1,375,654 shares of the company's stock traded hands, compared to its average volume of 1,080,317. The company has a market cap of $4.35 billion, a price-to-earnings ratio of -37.18 and a beta of 1.15. Braze, Inc. has a one year low of $29.18 and a one year high of $61.53. The stock has a 50 day moving average of $34.67 and a 200 day moving average of $37.29.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BRZE shares. TD Cowen reduced their price target on Braze from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, September 24th. Wells Fargo & Company reduced their price target on 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 upped their price target on Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a research note on Tuesday. Loop Capital reaffirmed a "buy" rating and issued a $75.00 price target on shares of Braze in a research note on Tuesday, September 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, Braze presently has a consensus 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.