Allspring Global Investments Holdings LLC Acquires 27,855 Shares of Braze, Inc. (NASDAQ:BRZE)

Allspring Global Investments Holdings LLC grew its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 301,641 shares of the company's stock after purchasing an additional 27,855 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.30% of Braze worth $16,026,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BRZE. Fred Alger Management LLC bought a new position in shares of Braze during the 3rd quarter worth approximately $29,000. BluePath Capital Management LLC purchased a new stake in Braze during the 3rd quarter worth approximately $31,000. Royal Bank of Canada grew its position in Braze by 189.3% during the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company's stock worth $40,000 after purchasing an additional 759 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Braze during the 3rd quarter worth approximately $61,000. Finally, Advisors Asset Management Inc. grew its position in Braze by 70.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,406 shares of the company's stock worth $66,000 after purchasing an additional 579 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

Braze Stock Down 3.4 %

NASDAQ BRZE traded down $1.43 on Monday, hitting $40.43. 1,695,787 shares of the stock were exchanged, compared to its average volume of 863,795. Braze, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $61.53. The company has a market cap of $4.08 billion, a PE ratio of -30.40 and a beta of 1.14. The company has a 50-day moving average price of $51.83 and a 200-day moving average price of $50.97.

Insider Transactions at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $53.35, for a total value of $80,025.00. Following the completion of the sale, the director now owns 11,056 shares in the company, valued at approximately $589,837.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the business's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $53.35, for a total value of $80,025.00. Following the transaction, the director now directly owns 11,056 shares of the company's stock, valued at approximately $589,837.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Pankaj Malik sold 2,832 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $57.52, for a total transaction of $162,896.64. Following the completion of the transaction, the chief accounting officer now directly owns 75,021 shares in the company, valued at $4,315,207.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,454 shares of company stock worth $4,081,771. 26.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BRZE shares. TD Cowen dropped their price objective on shares of Braze from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, March 28th. Raymond James dropped their price objective on shares of Braze from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Thursday, March 28th. William Blair reaffirmed an "outperform" rating on shares of Braze in a report on Thursday, March 28th. Piper Sandler reissued an "overweight" rating and set a $66.00 price target on shares of Braze in a report on Friday, April 5th. Finally, Needham & Company LLC restated a "buy" rating and set a $70.00 price target on shares of Braze in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Braze presently has a consensus rating of "Moderate Buy" and an average target price of $64.29.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.