Alyeska Investment Group L.P. Takes Position in Braze, Inc. $BRZE

Key Points

• Alyeska Investment Group L.P. has invested $800,000 in Braze, Inc. by acquiring 22,160 shares, according to a recent SEC filing.
• Much of Braze's stock is held by institutional investors, with 90.47% of the company's stock owned by hedge funds and other entities.
• Analysts have mixed views on Braze's stock, with a consensus rating of "Moderate Buy" and a price target averaging $44.85.

Alyeska Investment Group L.P. purchased a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,160 shares of the company's stock, valued at approximately $800,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Braze by 5.3% during the first quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company's stock valued at $321,542,000 after acquiring an additional 447,746 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Braze during the first quarter valued at $54,644,000. Fuller & Thaler Asset Management Inc. bought a new stake in Braze in the 1st quarter worth about $50,988,000. Deutsche Bank AG increased its holdings in Braze by 3.9% in the 1st 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 in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Braze by 9.5% in the 1st 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 in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Astha Malik sold 13,049 shares of Braze stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $338,491.06. Following the transaction, the insider directly owned 236,930 shares of the company's stock, valued at $6,145,964.20. The trade was a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Pankaj Malik sold 2,344 shares of Braze stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $60,803.36. Following the transaction, the chief accounting officer directly owned 66,930 shares in the company, valued at approximately $1,736,164.20. The trade was a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 75,624 shares of company stock valued at $2,021,306. 18.20% of the stock is currently owned by company insiders.

Braze Stock Down 2.4%

NASDAQ:BRZE traded down $0.74 on Friday, hitting $30.14. The stock had a trading volume of 1,568,611 shares, compared to its average volume of 2,149,073. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -28.98 and a beta of 1.10. The business's 50-day simple moving average is $27.58 and its two-hundred day simple moving average is $30.82. Braze, Inc. has a 52-week low of $23.91 and a 52-week high of $48.33.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BRZE shares. Loop Capital reduced their price objective on Braze from $75.00 to $45.00 and set a "buy" rating for the company in a report on Friday, June 6th. Raymond James Financial reduced their price objective on Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, June 6th. Oppenheimer reduced their price objective on Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. UBS Group reduced their price objective on Braze from $48.00 to $43.00 and set a "buy" rating for the company in a report on Friday, September 5th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $68.00 price objective on shares of Braze in a report on Friday, September 5th. Twenty equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Braze presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.10.

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.