Alliancebernstein L.P. Has $65.02 Million Stock Position in Braze, Inc. $BRZE

Key Points

• Alliancebernstein L.P. reduced its holdings in Braze, Inc. by 20.4% in Q1, selling 461,480 shares and owning 1.72% of the company worth $65 million.
• Various institutional investors, including GAMMA Investing LLC and Vanguard Group Inc., increased their positions in Braze, with institutional ownership now at 90.47%.
• Analysts have mixed views on Braze, with a consensus rating of "Moderate Buy" and an average target price of $44.85, influenced by changes from firms like JPMorgan and Barclays.

Alliancebernstein L.P. trimmed its position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,802,068 shares of the company's stock after selling 461,480 shares during the period. Alliancebernstein L.P. owned about 1.72% of Braze worth $65,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BRZE. Vanguard Group Inc. grew its stake in Braze by 5.3% in the first quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company's stock valued at $321,542,000 after purchasing an additional 447,746 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Braze during the 1st quarter valued at about $54,644,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Braze in the 1st quarter valued at approximately $50,988,000. Deutsche Bank AG increased its holdings in Braze by 3.9% in the first quarter. Deutsche Bank AG now owns 1,403,067 shares of the company's stock worth $50,623,000 after buying an additional 52,047 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Braze by 9.5% in the first quarter. Wellington Management Group LLP now owns 1,307,700 shares of the company's stock worth $47,182,000 after buying an additional 113,807 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company's stock.

Analyst Upgrades and Downgrades

BRZE has been the subject of a number of analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $68.00 target price on shares of Braze in a research note on Friday, September 5th. UBS Group cut their price target on shares of Braze from $48.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, September 5th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective on shares of Braze in a report on Friday, September 5th. Canaccord Genuity Group reissued a "buy" rating and set a $43.00 target price on shares of Braze in a research report on Friday, September 5th. Finally, Loop Capital reduced their price target on Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Twenty research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $45.10.

Braze Stock Performance

Shares of NASDAQ:BRZE traded down $0.74 during midday trading on Friday, hitting $30.14. The company's stock had a trading volume of 1,568,611 shares, compared to its average volume of 2,149,073. The stock's 50 day simple moving average is $27.58 and its 200 day simple moving average is $30.82. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -28.98 and a beta of 1.10. Braze, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $48.33.

Insider Transactions at Braze

In other news, CTO Jonathan Hyman sold 8,918 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $231,332.92. Following the completion of the transaction, the chief technology officer directly owned 205,106 shares in the company, valued at $5,320,449.64. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Magnuson sold 24,325 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $630,990.50. Following the transaction, the chief executive officer directly owned 721,444 shares in the company, valued at $18,714,257.36. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,624 shares of company stock worth $2,021,306. Insiders own 18.20% 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.