Braze, Inc. $BRZE Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 17.6% in the second quarter, Holdings Channel.com reports. The fund owned 24,957 shares of the company’s stock after selling 5,320 shares during the quarter. AMI Asset Management Corp’s holdings in Braze were worth $701,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Braze in the first quarter worth $691,000. GAMMA Investing LLC lifted its stake in shares of Braze by 12,025.6% in the first quarter. GAMMA Investing LLC now owns 26,555 shares of the company’s stock valued at $958,000 after buying an additional 26,336 shares during the period. Vident Advisory LLC bought a new position in Braze during the first quarter worth about $356,000. Vanguard Group Inc. lifted its stake in Braze by 5.3% during the first quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company’s stock worth $321,542,000 after purchasing an additional 447,746 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Braze by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 368,383 shares of the company’s stock worth $13,291,000 after purchasing an additional 25,870 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Braze

In other news, CTO Jonathan Hyman sold 8,918 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total transaction of $231,332.92. Following the transaction, the chief technology officer directly owned 205,106 shares in the company, valued at $5,320,449.64. The trade was a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Pankaj Malik sold 4,174 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $32.77, for a total transaction of $136,781.98. Following the transaction, the chief accounting officer owned 62,756 shares in the company, valued at $2,056,514.12. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,798 shares of company stock worth $2,158,088 over the last ninety days. Company insiders own 18.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BRZE shares. JPMorgan Chase & Co. dropped their price objective on shares of Braze from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, June 6th. Citigroup raised their price target on shares of Braze from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, September 5th. Oppenheimer reduced their price objective on shares of Braze from $44.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. The Goldman Sachs Group set a $52.00 price objective on shares of Braze and gave the company a “buy” rating in a research note on Saturday, September 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $50.00 price target on shares of Braze in a research report on Wednesday. Nineteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.11.

Braze Trading Down 1.4%

Shares of BRZE stock opened at $28.04 on Thursday. Braze, Inc. has a 1 year low of $23.91 and a 1 year high of $48.33. The firm’s fifty day moving average price is $28.43 and its two-hundred day moving average price is $30.48. The firm has a market capitalization of $3.12 billion, a P/E ratio of -26.96 and a beta of 1.10.

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.