Braze, Inc. (NASDAQ:BRZE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 11.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 205,010 shares of the company’s stock after selling 25,509 shares during the period. New York State Common Retirement Fund’s holdings in Braze were worth $8,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BRZE. KBC Group NV increased its holdings in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares during the last quarter. Amalgamated Bank grew its stake in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Braze in the 4th quarter valued at $165,000. Moody National Bank Trust Division purchased a new stake in shares of Braze in the 4th quarter valued at $233,000. Finally, Principal Financial Group Inc. acquired a new position in Braze during the 4th quarter worth about $236,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Braze news, insider Myles Kleeger sold 8,365 shares of Braze stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the transaction, the insider now owns 168,882 shares of the company’s stock, valued at $6,775,545.84. The trade was a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $42.02, for a total value of $63,030.00. Following the completion of the sale, the director now directly owns 15,269 shares of the company’s stock, valued at $641,603.38. The trade was a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 183,581 shares of company stock valued at $8,059,840. Insiders own 24.03% of the company’s stock.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $37.05 on Wednesday. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $59.12. The firm has a market capitalization of $3.83 billion, a P/E ratio of -32.50 and a beta of 1.13. The company’s fifty day moving average price is $43.14 and its 200 day moving average price is $39.03.

Analysts Set New Price Targets

Several research firms have weighed in on BRZE. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a research report on Monday, February 3rd. Citigroup upped their target price on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Macquarie raised their price target on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group lowered their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Braze 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.