Sincerus Advisory LLC Purchases Shares of 20,402 Braze, Inc. (NASDAQ:BRZE)

Sincerus Advisory LLC acquired a new position in shares of Braze, Inc. (NASDAQ:BRZE) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 20,402 shares of the company’s stock, valued at approximately $854,000.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock worth $58,489,000 after purchasing an additional 1,075,998 shares in the last quarter. State Street Corp increased its stake in shares of Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after buying an additional 279,050 shares during the period. Geode Capital Management LLC raised its holdings in Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after acquiring an additional 229,660 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Braze by 69.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after acquiring an additional 612,400 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in Braze by 20.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock worth $32,343,000 after acquiring an additional 129,298 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Pankaj Malik sold 3,700 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the sale, the chief accounting officer now owns 54,784 shares in the company, valued at $2,507,463.68. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Susan Wiseman sold 41,210 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $45.09, for a total value of $1,858,158.90. Following the completion of the transaction, the general counsel now owns 199,520 shares of the company’s stock, valued at $8,996,356.80. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,581 shares of company stock worth $8,059,840. 24.03% of the stock is owned by corporate insiders.

Braze Stock Performance

Braze stock opened at $37.05 on Wednesday. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $59.12. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -32.50 and a beta of 1.13. The stock has a fifty day moving average of $43.14 and a two-hundred day moving average of $39.03.

Analysts Set New Price Targets

A number of analysts have weighed in on BRZE shares. Oppenheimer restated an “outperform” rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Braze in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price target on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. William Blair reissued an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Finally, The Goldman Sachs Group lowered their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.