Vident Advisory LLC Makes New $356,000 Investment 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 bought a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,868 shares of the company's stock, valued at approximately $356,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Braze by 168.0% during the fourth 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 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. Caitong International Asset Management Co. Ltd acquired a new position in Braze during the first quarter worth about $36,000. Versant Capital Management Inc acquired a new position in Braze during the first quarter worth about $54,000. Finally, SouthState Corp acquired a new position in shares of Braze in the first quarter valued at approximately $83,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Stock Performance

Braze stock opened at $32.30 on Tuesday. Braze, Inc. has a 1 year low of $23.91 and a 1 year high of $48.33. The firm has a 50 day moving average price of $27.41 and a 200 day moving average price of $30.93. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -31.06 and a beta of 1.10.

Insider Activity at Braze

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 sale, the chief accounting officer directly owned 66,930 shares in the company, valued at $1,736,164.20. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Magnuson sold 24,325 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $630,990.50. Following the sale, the chief executive officer owned 721,444 shares of the company's stock, valued at approximately $18,714,257.36. This represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,354 shares of company stock valued at $1,914,998 over the last quarter. Company insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Braze from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, June 6th. Citigroup boosted their price objective on shares of Braze from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Friday. Oppenheimer cut their price objective on shares of Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Mizuho boosted their price objective on shares of Braze from $40.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday. Finally, UBS Group cut their price objective on shares of Braze from $48.00 to $43.00 and set a "buy" rating for the company in a research report on Friday. Twenty investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Braze currently has an average rating of "Moderate Buy" and a consensus target price of $45.10.

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.

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