Ieq Capital LLC Has $9.05 Million Stock Position in Braze, Inc. (NASDAQ:BRZE)

Ieq Capital LLC lessened its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 215,975 shares of the company’s stock after selling 16,467 shares during the period. Ieq Capital LLC owned about 0.21% of Braze worth $9,045,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Braze in the fourth quarter worth approximately $165,000. Peregrine Capital Management LLC grew its position in Braze by 1.8% during the 4th quarter. Peregrine Capital Management LLC now owns 229,006 shares of the company’s stock worth $9,591,000 after purchasing an additional 4,109 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Braze during the 4th quarter valued at $236,000. Stephens Investment Management Group LLC lifted its holdings in shares of Braze by 20.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock valued at $32,343,000 after purchasing an additional 129,298 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after buying an additional 832 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 3,955 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $41.41, for a total transaction of $163,776.55. Following the completion of the sale, the chief accounting officer now directly owns 63,140 shares in the company, valued at $2,614,627.40. This represents a 5.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the completion of the transaction, the general counsel now owns 182,109 shares in the company, valued at $7,288,002.18. The trade was a 1.88 % 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 worth $8,059,840 over the last 90 days. Insiders own 24.03% of the company’s stock.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $40.66 on Friday. The business’s 50-day simple moving average is $43.46 and its 200-day simple moving average is $39.02. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $59.12. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of -35.67 and a beta of 1.13.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BRZE shares. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. DA Davidson dropped their target price on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price target 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. The Goldman Sachs Group dropped their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their target price on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and an average price target of $53.74.

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.