AMI Asset Management Corp Reduces Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

AMI Asset Management Corp reduced its position in Braze, Inc. (NASDAQ:BRZE) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,309 shares of the company’s stock after selling 1,129 shares during the quarter. AMI Asset Management Corp’s holdings in Braze were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Blair William & Co. IL increased its holdings in Braze by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after acquiring an additional 283 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Braze in the 2nd quarter worth approximately $229,000. ProShare Advisors LLC boosted its holdings in Braze by 6.0% in the 2nd quarter. ProShare Advisors LLC now owns 14,845 shares of the company’s stock worth $577,000 after buying an additional 846 shares during the period. Magnetar Financial LLC purchased a new position in Braze in the 2nd quarter valued at approximately $838,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of Braze during the second quarter worth $311,000. 90.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 9,225 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $317,801.25. Following the transaction, the insider now directly owns 190,738 shares of the company’s stock, valued at approximately $6,570,924.10. This trade represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 3,700 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.77, for a total value of $169,349.00. Following the completion of the sale, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,583 shares of company stock worth $7,325,468 over the last ninety days. Insiders own 24.03% of the company’s stock.

Braze Trading Up 0.0 %

Shares of Braze stock opened at $44.11 on Tuesday. The business’s 50-day moving average price is $41.38 and its 200-day moving average price is $38.51. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Wall Street Analyst Weigh In

BRZE has been the subject of several recent research reports. Citigroup lifted their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Macquarie lifted their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. DA Davidson lowered their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Braze in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company decreased their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 26th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Braze presently has an average 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.