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

Several other institutional investors have also modified their holdings of the stock. US Bancorp DE grew its holdings in shares of Braze by 1.4% in the first quarter. US Bancorp DE now owns 21,314 shares of the company's stock valued at $769,000 after purchasing an additional 302 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Braze by 2.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock valued at $559,000 after buying an additional 316 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares during the last quarter. IFP Advisors Inc grew its position in Braze by 15.3% in the first quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock worth $122,000 after acquiring an additional 449 shares during the period. Finally, GAMMA Investing LLC increased its stake in Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after acquiring an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BRZE. UBS Group lowered their price target on Braze from $48.00 to $43.00 and set a "buy" rating for the company in a report on Friday. Macquarie reduced their price target on shares of Braze from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Needham & Company LLC restated a "buy" rating and issued a $50.00 price objective on shares of Braze in a report on Friday. Raymond James Financial cut their target price on Braze from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, June 6th. Finally, Oppenheimer lowered their price target on Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Twenty analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.10.

Braze Price Performance

Shares of NASDAQ BRZE traded down $0.99 during mid-day trading on Tuesday, hitting $31.31. The company had a trading volume of 3,022,401 shares, compared to its average volume of 2,003,327. The company has a market capitalization of $3.31 billion, a PE ratio of -30.11 and a beta of 1.10. The business's 50-day simple moving average is $27.47 and its 200 day simple moving average is $30.93. Braze, Inc. has a 1-year low of $23.91 and a 1-year high of $48.33.

Insiders Place Their Bets

In other Braze news, CAO Pankaj Malik sold 2,344 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total transaction of $60,803.36. Following the completion of the transaction, the chief accounting officer owned 66,930 shares in the company, valued at $1,736,164.20. The trade was a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Susan Wiseman sold 4,988 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total transaction of $129,388.72. Following the completion of the sale, the general counsel owned 234,667 shares in the company, valued at $6,087,261.98. The trade was a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,624 shares of company stock worth $2,021,306. Corporate insiders own 18.20% of the company's stock.

About Braze

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.