Intech Investment Management LLC Increases Stock Position in Braze, Inc. (NASDAQ:BRZE)

Intech Investment Management LLC raised its position in shares of Braze, Inc. (NASDAQ:BRZE) by 62.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,902 shares of the company’s stock after buying an additional 13,096 shares during the quarter. Intech Investment Management LLC’s holdings in Braze were worth $1,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Braze by 12.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after buying an additional 57,713 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Braze by 195.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after buying an additional 51,411 shares during the period. Proficio Capital Partners LLC purchased a new position in Braze during the fourth quarter valued at $498,000. Holocene Advisors LP lifted its position in Braze by 52.7% during the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after buying an additional 29,123 shares during the period. Finally, Geode Capital Management LLC lifted its position in Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 14,000 shares of Braze stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.52, for a total transaction of $637,280.00. Following the transaction, the general counsel now directly owns 199,520 shares of the company’s stock, valued at $9,082,150.40. The trade was a 6.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Magnuson sold 18,050 shares of Braze stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now directly owns 564,766 shares in the company, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock worth $3,841,921 in the last three months. 24.03% of the stock is currently owned by company insiders.

Braze Stock Up 2.7 %

Braze stock opened at $37.03 on Friday. The business has a 50-day simple moving average of $40.20 and a two-hundred day simple moving average of $38.08. The company has a market cap of $3.83 billion, a P/E ratio of -32.48 and a beta of 1.17. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $53.74.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BRZE shares. Stephens started coverage on Braze in a report on Wednesday. They set an “overweight” rating and a $43.00 price target for the company. Macquarie raised their price target on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Oppenheimer restated an “outperform” rating and set a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Braze in a report on Monday, February 3rd. Finally, William Blair restated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Braze currently has a consensus rating of “Buy” and a consensus price target of $52.45.

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.