Victory Capital Management Inc. acquired a new stake in Braze, Inc. (NASDAQ:BRZE – Get Rating) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 592,989 shares of the company's stock, valued at approximately $20,654,000. Victory Capital Management Inc. owned approximately 0.62% of Braze at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stanley Laman Group Ltd. bought a new position in Braze in the 3rd quarter valued at approximately $1,167,000. Kettle Hill Capital Management LLC bought a new position in Braze in the 2nd quarter valued at approximately $2,942,000. AlpInvest Partners B.V. bought a new position in Braze in the 2nd quarter valued at approximately $1,141,000. CIBC Private Wealth Group LLC bought a new position in shares of Braze during the 2nd quarter valued at $1,442,000. Finally, Renaissance Capital LLC bought a new position in shares of Braze during the 3rd quarter valued at $440,000. 44.13% of the stock is owned by institutional investors.
Get Braze alerts:Analyst Ratings Changes
BRZE has been the topic of several research analyst reports. Canaccord Genuity Group lowered their price target on Braze from $47.00 to $33.00 in a report on Wednesday, December 14th. JMP Securities lowered their price target on Braze from $52.00 to $46.00 and set a "market outperform" rating on the stock in a report on Wednesday, December 14th. BTIG Research initiated coverage on Braze in a report on Wednesday, January 11th. They set a "buy" rating and a $34.00 price target on the stock. Cowen lowered their price target on Braze from $47.00 to $44.00 in a report on Wednesday, December 14th. Finally, Needham & Company LLC lowered their price target on Braze from $70.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, October 14th. Fifteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $42.07.
Braze Stock Performance
Shares of BRZE stock opened at $31.49 on Wednesday. Braze, Inc. has a 52-week low of $22.53 and a 52-week high of $67.48. The firm has a market capitalization of $3.01 billion, a PE ratio of -18.86 and a beta of 0.41. The stock has a fifty day simple moving average of $26.94 and a two-hundred day simple moving average of $33.96.Insiders Place Their Bets
In other news, insider Myles Kleeger sold 20,000 shares of the firm's stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $25.02, for a total transaction of $500,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.14% of the stock is currently owned by company insiders.
Braze Company Profile
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Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.
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