Cubist Systematic Strategies LLC Purchases New Holdings in Braze, Inc. $BRZE

Key Points

• Cubist Systematic Strategies LLC acquired 116,686 shares of Braze, Inc. for approximately $4.21 million, representing 0.11% ownership of the company.
• Multiple institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, increased their stakes in Braze during the first quarter, with institutional ownership now at 90.47%.
• CEO William Magnuson and insider Astha Malik sold shares at an average price of $25.94, while Braze's stock has fluctuated between a 12-month low of $23.91 and a high of $48.33.

Cubist Systematic Strategies LLC bought a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 116,686 shares of the company's stock, valued at approximately $4,210,000. Cubist Systematic Strategies LLC owned about 0.11% of Braze as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in shares of Braze by 1.4% during the first quarter. US Bancorp DE now owns 21,314 shares of the company's stock worth $769,000 after purchasing an additional 302 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Braze by 2.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock worth $559,000 after buying an additional 316 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after buying an additional 405 shares during the period. IFP Advisors Inc increased its stake in shares of Braze by 15.3% during the 1st quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock valued at $122,000 after acquiring an additional 449 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $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.

Braze Price Performance

NASDAQ BRZE traded down $1.23 during trading hours on Wednesday, hitting $30.08. The company had a trading volume of 2,115,686 shares, compared to its average volume of 2,086,297. The firm's 50 day moving average is $27.51 and its 200 day moving average is $30.92. Braze, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $48.33. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -28.92 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BRZE. Cantor Fitzgerald raised their target price on shares of Braze from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Stephens set a $41.00 price target on shares of Braze and gave the company an "overweight" rating in a report on Friday, June 6th. Loop Capital dropped 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Braze in a research report on Friday, September 5th. Finally, The Goldman Sachs Group set a $52.00 price target on Braze and gave the company a "buy" rating in a research report on Saturday. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Braze presently has an average rating of "Moderate Buy" and a consensus target price of $45.10.

Insider Activity

In other news, CAO Pankaj Malik sold 2,344 shares of the business'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 $60,803.36. Following the transaction, the chief accounting officer directly owned 66,930 shares of the company's stock, valued at approximately $1,736,164.20. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jonathan Hyman sold 8,918 shares of the company'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 $231,332.92. Following the completion of the transaction, the chief technology officer owned 205,106 shares of the company's stock, valued at $5,320,449.64. This trade represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,624 shares of company stock worth $2,021,306 in the last ninety days. 18.20% of the stock is currently owned by company insiders.

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.