Braze, Inc. (NASDAQ:BRZE) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its position in shares of Braze, Inc. (NASDAQ:BRZE) by 31.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,418 shares of the company’s stock after selling 5,292 shares during the period. AlphaQuest LLC’s holdings in Braze were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in BRZE. Harbor Capital Advisors Inc. boosted its position in shares of Braze by 3.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock worth $453,000 after purchasing an additional 346 shares during the period. Amalgamated Bank boosted its position in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the period. KBC Group NV boosted its position in shares of Braze by 41.5% during 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 during the period. SBI Securities Co. Ltd. purchased a new position in shares of Braze during the 4th quarter worth approximately $47,000. Finally, Arizona State Retirement System boosted its position in shares of Braze by 7.2% during the 4th quarter. Arizona State Retirement System now owns 17,928 shares of the company’s stock worth $751,000 after purchasing an additional 1,203 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on BRZE shares. Wells Fargo & Company dropped their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. 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. William Blair restated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. DA Davidson dropped 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. Finally, Stifel Nicolaus increased their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Braze presently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Insiders Place Their Bets

In other Braze news, General Counsel Susan Wiseman sold 41,210 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $45.09, for a total transaction of $1,858,158.90. Following the completion of the sale, the general counsel now directly owns 199,520 shares of the company’s stock, valued at approximately $8,996,356.80. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 2,100 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.00, for a total value of $94,500.00. Following the sale, the insider now directly owns 184,396 shares of the company’s stock, valued at $8,297,820. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,581 shares of company stock valued at $8,059,840. 24.03% of the stock is owned by company insiders.

Braze Trading Up 6.0 %

Braze stock opened at $35.60 on Thursday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $55.47. The stock has a 50 day moving average of $41.52 and a two-hundred day moving average of $38.51. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -31.23 and a beta of 1.17.

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.