Dynamic Technology Lab Private Ltd Purchases Shares of 19,160 Braze, Inc. $BRZE

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in Braze, Inc. worth approximately $691,000, purchasing 19,160 shares during the first quarter.
• In recent quarters, several institutional investors, including GAMMA Investing LLC and Bank of America Corp DE, significantly increased their positions in Braze, collectively owning about 90.47% of the company's stock.
• Braze has received a series of positive analyst ratings, with twenty analysts giving it a "Buy" rating and a consensus price target of $45.10.

Dynamic Technology Lab Private Ltd bought a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,160 shares of the company's stock, valued at approximately $691,000.

Other large investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position 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 purchasing an additional 405 shares during the last quarter. GAMMA Investing LLC raised its position in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after purchasing an additional 517 shares during the last quarter. Quarry LP raised its position in Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after purchasing an additional 595 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Braze during the 1st quarter worth $36,000. Finally, Versant Capital Management Inc bought a new position in Braze during the 1st quarter worth $54,000. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BRZE. Raymond James Financial lowered their target price on Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. DA Davidson reaffirmed a "buy" rating and set a $40.00 target price on shares of Braze in a research report on Friday, September 5th. JPMorgan Chase & Co. lowered their target price on Braze from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, June 6th. Oppenheimer lowered their target price on Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $43.00 target price on shares of Braze in a research 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.10.

Braze Price Performance

Shares of BRZE traded down $0.74 during trading hours 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 firm has a 50 day simple moving average of $27.58 and a 200-day simple moving average of $30.78. The firm has a market capitalization of $3.35 billion, a P/E ratio of -28.98 and a beta of 1.10. Braze, Inc. has a 1-year low of $23.91 and a 1-year high of $48.33.

Insider Buying and Selling

In other news, CEO William Magnuson sold 24,325 shares of the firm'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 $630,990.50. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Susan Wiseman sold 4,943 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $25.14, for a total value of $124,267.02. Following the completion of the sale, the general counsel owned 229,724 shares of the company's stock, valued at approximately $5,775,261.36. This represents a 2.11% 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 over the last 90 days. 18.20% of the stock is owned by company insiders.

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.