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

Allspring Global Investments Holdings LLC raised its stake in Braze, Inc. (NASDAQ:BRZE) by 10.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,641 shares of the company’s stock after purchasing an additional 27,855 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Braze were worth $16,026,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in Braze in the 3rd quarter valued at $4,377,000. Morgan Stanley boosted its holdings in Braze by 20.1% in the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after purchasing an additional 899,894 shares during the period. Seven Eight Capital LP bought a new stake in Braze in the 3rd quarter valued at $283,000. Penserra Capital Management LLC boosted its holdings in Braze by 375.8% in the 3rd quarter. Penserra Capital Management LLC now owns 55,982 shares of the company’s stock valued at $2,616,000 after purchasing an additional 44,217 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Braze by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company’s stock valued at $246,099,000 after buying an additional 228,089 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Susan Wiseman sold 7,600 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $43.06, for a total value of $327,256.00. Following the transaction, the general counsel now owns 206,358 shares of the company’s stock, valued at approximately $8,885,775.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Susan Wiseman sold 7,600 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $43.06, for a total value of $327,256.00. Following the transaction, the general counsel now owns 206,358 shares of the company’s stock, valued at approximately $8,885,775.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 5,489 shares of Braze stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $57.51, for a total transaction of $315,672.39. Following the transaction, the chief financial officer now directly owns 282,564 shares in the company, valued at approximately $16,250,255.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,071 shares of company stock valued at $3,722,979. 26.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

BRZE has been the subject of a number of recent research reports. Oppenheimer restated an “outperform” rating and issued a $75.00 price objective on shares of Braze in a research note on Thursday, March 28th. Canaccord Genuity Group dropped their price objective on shares of Braze from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. TD Cowen dropped their price objective on shares of Braze from $68.00 to $65.00 and set a “buy” rating for the company in a research note 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 for the company in a research note on Thursday, March 28th. Finally, Scotiabank dropped their target price on shares of Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.29.

Braze Trading Down 3.2 %

BRZE opened at $41.86 on Monday. The stock has a market capitalization of $4.22 billion, a PE ratio of -31.47 and a beta of 1.13. Braze, Inc. has a 1-year low of $25.76 and a 1-year high of $61.53. The firm has a 50-day moving average price of $52.13 and a two-hundred day moving average price of $51.01.

Braze Company Profile

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.