Connor Clark & Lunn Investment Management Ltd. Acquires 46,452 Shares of Braze, Inc. (NASDAQ:BRZE)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Braze, Inc. (NASDAQ:BRZE) by 185.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,535 shares of the company’s stock after acquiring an additional 46,452 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Braze worth $2,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRZE. Charles Schwab Investment Management Inc. lifted its stake in shares of Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after purchasing an additional 57,713 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Braze by 195.6% during the 3rd 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. Victory Capital Management Inc. raised its holdings in Braze by 5.0% during the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after buying an additional 19,567 shares during the period. Intech Investment Management LLC bought a new stake in Braze in the third quarter worth $673,000. Finally, Proficio Capital Partners LLC purchased a new position in Braze during the fourth quarter worth $498,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

NASDAQ:BRZE opened at $36.17 on Tuesday. The firm has a 50-day simple moving average of $40.81 and a 200-day simple moving average of $38.22. Braze, Inc. has a one year low of $29.18 and a one year high of $55.47. The firm has a market cap of $3.74 billion, a P/E ratio of -31.73 and a beta of 1.17.

Analyst Ratings Changes

A number of research firms recently commented on BRZE. William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Piper Sandler boosted their target price on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Wells Fargo & Company cut their target price 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 raised their price target on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Citigroup upped their price objective on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.74.

Insider Activity at Braze

In other news, CAO Pankaj Malik sold 3,700 shares of Braze 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 transaction, the chief accounting officer now directly owns 54,784 shares in the company, valued at approximately $2,507,463.68. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 41,210 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $45.09, for a total value of $1,858,158.90. Following the sale, the general counsel now owns 199,520 shares of the company’s stock, valued at $8,996,356.80. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,580 shares of company stock valued at $7,409,749 over the last ninety days. 24.03% of the stock is 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.