Intech Investment Management LLC Boosts Holdings in Braze, Inc. (NASDAQ:BRZE)

Intech Investment Management LLC increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 62.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,902 shares of the company’s stock after purchasing an additional 13,096 shares during the period. Intech Investment Management LLC’s holdings in Braze were worth $1,420,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BRZE. KBC Group NV lifted its holdings in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Braze in the 3rd quarter worth approximately $1,746,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Braze by 14.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,083 shares of the company’s stock worth $811,000 after purchasing an additional 3,180 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Braze by 80.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 26,196 shares of the company’s stock worth $847,000 after purchasing an additional 11,646 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in Braze by 17.4% in the 3rd quarter. King Luther Capital Management Corp now owns 105,156 shares of the company’s stock worth $3,401,000 after purchasing an additional 15,583 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Stock Up 2.7 %

Shares of Braze stock opened at $37.03 on Friday. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $53.74. The company has a market capitalization of $3.83 billion, a PE ratio of -32.48 and a beta of 1.17. The stock’s fifty day moving average is $40.20 and its two-hundred day moving average is $38.08.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BRZE. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. DA Davidson decreased their price objective on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. Finally, Macquarie upped their price objective on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Braze has a consensus rating of “Buy” and a consensus target price of $52.45.

Insiders Place Their Bets

In other Braze news, CAO Pankaj Malik sold 3,700 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the completion of the sale, the chief accounting officer now directly owns 54,784 shares in the company, valued at approximately $2,507,463.68. This represents a 6.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $43.13, for a total value of $64,695.00. Following the completion of the sale, the director now owns 15,269 shares of the company’s stock, valued at $658,551.97. This represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,470 shares of company stock worth $3,841,921. 24.03% of the stock is currently owned by company insiders.

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.