Vident Advisory LLC Invests $356,000 in Braze, Inc. $BRZE

Key Points

• Vident Advisory LLC has made a new investment of approximately $356,000 in Braze, Inc., acquiring 9,868 shares during the first quarter.
• Institutional investors own 90.47% of Braze's stock, indicating significant institutional interest.
• Wall Street analysts have set an average target price of $45.10 for Braze, with a consensus rating of "Moderate Buy."

Vident Advisory LLC acquired a new position in Braze, Inc. (NASDAQ:BRZE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,868 shares of the company's stock, valued at approximately $356,000.

Several other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased 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 during the last quarter. GAMMA Investing LLC raised its position in 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 purchasing an additional 517 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Braze during the 1st quarter valued at approximately $36,000. Versant Capital Management Inc bought a new position in Braze during the 1st quarter valued at approximately $54,000. Finally, SouthState Corp bought a new position in Braze during the 1st quarter valued at approximately $83,000. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BRZE shares. Barclays raised their price objective on Braze from $35.00 to $39.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $43.00 target price on shares of Braze in a report on Friday, September 5th. JPMorgan Chase & Co. dropped 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. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Braze in a report on Friday, September 5th. Finally, Oppenheimer reduced their price objective on shares of Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.10.

Insider Buying and Selling

In other Braze news, insider Astha Malik sold 13,049 shares of Braze stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $338,491.06. Following the transaction, the insider directly owned 236,930 shares in the company, valued at approximately $6,145,964.20. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 2,344 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 transaction of $60,803.36. Following the sale, the chief accounting officer directly owned 66,930 shares in the company, valued at approximately $1,736,164.20. This represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,624 shares of company stock valued at $2,021,306 in the last quarter. Corporate insiders own 18.20% of the company's stock.

Braze Trading Down 2.4%

Braze stock traded down $0.74 during trading on Friday, hitting $30.14. The company had a trading volume of 1,568,611 shares, compared to its average volume of 2,149,073. Braze, Inc. has a 1-year low of $23.91 and a 1-year high of $48.33. 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 company's 50 day simple moving average is $27.58 and its 200-day simple moving average is $30.78.

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.