Arizona State Retirement System Buys 1,335 Shares of Braze, Inc. (NASDAQ:BRZE)

Arizona State Retirement System increased its position in Braze, Inc. (NASDAQ:BRZE) by 11.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,150 shares of the company’s stock after acquiring an additional 1,335 shares during the quarter. Arizona State Retirement System’s holdings in Braze were worth $699,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Morgan Stanley increased its stake in Braze by 20.1% in the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after acquiring an additional 899,894 shares during the last quarter. Vanguard Group Inc. lifted its position in Braze by 4.5% during the third quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company’s stock valued at $246,099,000 after purchasing an additional 228,089 shares during the last quarter. BlackRock Inc. grew its stake in Braze by 296.6% in the 2nd quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock worth $114,050,000 after buying an additional 1,947,831 shares in the last quarter. Alliancebernstein L.P. grew its stake in Braze by 12.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock worth $104,054,000 after buying an additional 263,250 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Braze by 167.5% in the 3rd quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock worth $60,467,000 after buying an additional 810,295 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the transaction, the insider now directly owns 244,291 shares of the company’s stock, valued at $13,914,815.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Pankaj Malik sold 2,832 shares of Braze stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $57.52, for a total transaction of $162,896.64. Following the sale, the chief accounting officer now owns 75,021 shares of the company’s stock, valued at approximately $4,315,207.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the transaction, the insider now directly owns 244,291 shares of the company’s stock, valued at $13,914,815.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,815 shares of company stock worth $4,164,679. 26.48% of the stock is currently owned by company insiders.

Braze Price Performance

NASDAQ BRZE opened at $39.25 on Friday. Braze, Inc. has a 1 year low of $25.76 and a 1 year high of $61.53. The stock has a market capitalization of $3.96 billion, a PE ratio of -29.51 and a beta of 1.13. The business’s 50-day moving average is $50.80 and its 200 day moving average is $50.76.

Analyst Ratings Changes

BRZE has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Thursday, March 28th. Raymond James decreased their price objective on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. Scotiabank dropped their target price on Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a research report on Thursday, March 28th. Oppenheimer reissued an “outperform” rating and set a $75.00 price target on shares of Braze in a research note on Thursday, March 28th. Finally, Piper Sandler restated an “overweight” rating and issued a $66.00 price objective on shares of Braze in a report on Friday, April 5th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.29.

Braze 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.