116,686 Shares in Braze, Inc. $BRZE Purchased by Cubist Systematic Strategies LLC

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 acquired a new position in Braze, Inc. (NASDAQ:BRZE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 116,686 shares of the company's stock, valued at approximately $4,210,000. Cubist Systematic Strategies LLC owned approximately 0.11% of Braze at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BRZE. Tower Research Capital LLC TRC lifted its stake in Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after acquiring an additional 405 shares in the last quarter. GAMMA Investing LLC lifted its stake in Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after acquiring an additional 517 shares in the last quarter. Quarry LP lifted its stake in Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company's stock worth $29,000 after acquiring an additional 595 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Braze in the 1st quarter worth about $36,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Braze during the 1st quarter worth about $54,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Braze

In other news, insider Astha Malik sold 13,049 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total value of $338,491.06. Following the sale, the insider directly owned 236,930 shares in the company, valued at $6,145,964.20. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Magnuson sold 24,325 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $630,990.50. Following the completion of the sale, the chief executive officer owned 721,444 shares in the company, valued at approximately $18,714,257.36. This trade represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,624 shares of company stock valued at $2,021,306. Insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BRZE shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $43.00 price target on shares of Braze in a research note on Friday, September 5th. Macquarie cut their price target on Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Barclays increased their price objective on Braze from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Friday, September 5th. JMP Securities reissued a "market outperform" rating and set a $68.00 price objective on shares of Braze in a report on Friday, September 5th. Finally, Oppenheimer lowered their target price on Braze from $44.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Twenty equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.10.

Braze Stock Down 1.8%

Shares of Braze stock traded down $0.57 during trading on Wednesday, reaching $30.75. 396,713 shares of the company were exchanged, compared to its average volume of 1,456,405. Braze, Inc. has a twelve month low of $23.91 and a twelve month high of $48.33. The business has a 50-day moving average price of $27.47 and a 200-day moving average price of $30.93. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -29.56 and a beta of 1.10.

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.