C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Braze, Inc. (NASDAQ:BRZE)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Braze, Inc. (NASDAQ:BRZE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,943 shares of the company’s stock, valued at approximately $165,000.

A number of other institutional investors have also recently made changes to their positions in BRZE. KBC Group NV boosted its holdings in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Braze by 18.9% in 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 last quarter. Moody National Bank Trust Division purchased a new position in shares of Braze in the fourth quarter worth approximately $233,000. Modus Advisors LLC purchased a new position in shares of Braze in the fourth quarter worth approximately $253,000. Finally, Virtu Financial LLC purchased a new position in shares of Braze in the third quarter worth approximately $253,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

Shares of BRZE opened at $41.51 on Friday. The company’s fifty day moving average is $43.51 and its 200 day moving average is $39.04. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $59.98. The stock has a market capitalization of $4.30 billion, a PE ratio of -36.41 and a beta of 1.13.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BRZE shares. JPMorgan Chase & Co. dropped their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Citigroup raised their price objective on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. William Blair reissued an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Piper Sandler raised their target price on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, 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. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and an average target price of $53.74.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 3,432 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the sale, the chief accounting officer now owns 67,095 shares in the company, valued at approximately $2,311,422.75. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jonathan Hyman sold 6,930 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $238,738.50. Following the completion of the sale, the chief technology officer now owns 163,020 shares in the company, valued at $5,616,039. This represents a 4.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,583 shares of company stock worth $7,797,668. Insiders own 24.03% of the company’s stock.

Braze Company 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.