Battery Management Corp. Has $69.53 Million Stake in Braze, Inc. (NASDAQ:BRZE)

Battery Management Corp. cut its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 64.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,660,129 shares of the company’s stock after selling 3,054,990 shares during the quarter. Braze makes up 8.9% of Battery Management Corp.’s portfolio, making the stock its 4th largest holding. Battery Management Corp. owned about 1.60% of Braze worth $69,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in BRZE. SBI Securities Co. Ltd. acquired a new position in shares of Braze during the fourth quarter worth approximately $47,000. KBC Group NV boosted its position in shares of Braze by 41.5% during the third 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 period. Amalgamated Bank boosted its position in shares of Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after buying an additional 358 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Braze during the fourth quarter worth approximately $115,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Braze during the fourth quarter worth approximately $165,000. 90.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BRZE. Wells Fargo & Company reduced their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. The Goldman Sachs Group reduced their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Citigroup boosted their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler boosted their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. One equities research 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 has an average rating of “Moderate Buy” and an average target price of $53.74.

Braze Price Performance

Shares of BRZE opened at $36.48 on Thursday. The firm’s 50 day moving average is $42.40 and its 200-day moving average is $38.86. The stock has a market capitalization of $3.78 billion, a P/E ratio of -32.00 and a beta of 1.13. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $55.47.

Insider Transactions at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of Braze 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 transaction, the director now directly owns 15,269 shares of the company’s stock, valued at $641,603.38. This trade represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the transaction, the general counsel now directly owns 189,520 shares in the company, valued at approximately $8,949,134.40. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,581 shares of company stock valued at $8,059,840 over the last ninety days. Corporate insiders own 24.03% of the company’s stock.

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.