Ieq Capital LLC Has $9.05 Million Stake in Braze, Inc. (NASDAQ:BRZE)

Ieq Capital LLC lowered its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 7.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 215,975 shares of the company’s stock after selling 16,467 shares during the quarter. Ieq Capital LLC’s holdings in Braze were worth $9,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of BRZE. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Braze during the 4th quarter worth about $165,000. Peregrine Capital Management LLC increased its stake in Braze by 1.8% in the fourth quarter. Peregrine Capital Management LLC now owns 229,006 shares of the company’s stock valued at $9,591,000 after acquiring an additional 4,109 shares during the period. Principal Financial Group Inc. acquired a new position in Braze in the fourth quarter worth about $236,000. Stephens Investment Management Group LLC lifted its stake in Braze by 20.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock worth $32,343,000 after purchasing an additional 129,298 shares during the period. Finally, KBC Group NV boosted its holdings in Braze by 39.7% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after purchasing an additional 832 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Price Performance

BRZE stock opened at $40.66 on Friday. The stock has a market capitalization of $4.21 billion, a PE ratio of -35.67 and a beta of 1.13. The company has a 50 day moving average price of $43.46 and a 200 day moving average price of $39.02. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $59.12.

Insider Transactions at Braze

In related news, insider Myles Kleeger sold 8,365 shares of Braze stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the sale, the insider now directly owns 168,882 shares in the company, valued at $6,775,545.84. This trade represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 41,210 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $45.09, for a total transaction of $1,858,158.90. Following the transaction, the general counsel now owns 199,520 shares in the company, valued at approximately $8,996,356.80. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 183,581 shares of company stock worth $8,059,840 over the last 90 days. 24.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Piper Sandler lifted their price objective on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company dropped their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

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.