EverSource Wealth Advisors LLC Raises Stake in Braze, Inc. (NASDAQ:BRZE)

EverSource Wealth Advisors LLC increased its stake in Braze, Inc. (NASDAQ:BRZE) by 8,436.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 939 shares of the company’s stock after buying an additional 928 shares during the period. EverSource Wealth Advisors LLC’s holdings in Braze were worth $39,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in Braze in the 4th quarter worth about $47,000. KBC Group NV grew 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 buying an additional 615 shares in the last quarter. Plato Investment Management Ltd bought a new position in Braze during the 4th quarter worth about $115,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Braze during the fourth quarter valued at approximately $165,000. Finally, Moody National Bank Trust Division purchased a new position in shares of Braze in the 4th quarter valued at $233,000. Institutional investors own 90.47% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the completion of the sale, the general counsel now directly owns 182,109 shares of the company’s stock, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Myles Kleeger sold 8,365 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were 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 owns 168,882 shares in the company, valued at approximately $6,775,545.84. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock worth $3,841,921 in the last 90 days. Corporate insiders own 24.03% of the company’s stock.

Braze Stock Performance

BRZE stock opened at $36.05 on Friday. The company’s 50 day moving average price is $40.31 and its 200 day moving average price is $38.13. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -31.62 and a beta of 1.17. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $55.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BRZE shares. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Oppenheimer reissued an “outperform” rating and issued a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Stifel Nicolaus increased their target price on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. DA Davidson dropped their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Finally, Macquarie raised their target price on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. 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, the stock currently has an average rating of “Buy” and an average target price of $52.70.

About Braze

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.