Stephens Investment Management Group LLC Purchases 129,298 Shares of Braze, Inc. (NASDAQ:BRZE)

Stephens Investment Management Group LLC increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 772,268 shares of the company’s stock after purchasing an additional 129,298 shares during the period. Stephens Investment Management Group LLC owned approximately 0.75% of Braze worth $32,343,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. KBC Group NV increased its holdings in shares of Braze by 41.5% in 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 during the last quarter. Amalgamated Bank increased its stake in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in Braze during the fourth quarter valued at approximately $233,000. Modus Advisors LLC purchased a new stake in Braze during the fourth quarter valued at approximately $253,000. Finally, Virtu Financial LLC purchased a new position in shares of Braze in the 3rd quarter worth approximately $253,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 9,225 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $317,801.25. Following the completion of the sale, the insider now directly owns 190,738 shares in the company, valued at $6,570,924.10. This trade represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Magnuson sold 17,933 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $617,791.85. Following the transaction, the chief executive officer now directly owns 582,816 shares in the company, valued at approximately $20,078,011.20. The trade was a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,583 shares of company stock valued at $7,797,668. 24.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BRZE has been the topic of several recent research reports. Citigroup increased their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Stifel Nicolaus lifted their price target on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group reduced their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their target price on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Stock Performance

NASDAQ BRZE opened at $41.22 on Friday. The company has a market cap of $4.27 billion, a PE ratio of -36.16 and a beta of 1.13. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The firm’s 50 day moving average price is $43.40 and its 200-day moving average price is $39.01.

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.