Rhumbline Advisers Acquires 5,532 Shares of Braze, Inc. $BRZE

Rhumbline Advisers lifted its position in Braze, Inc. (NASDAQ:BRZE) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,189 shares of the company’s stock after buying an additional 5,532 shares during the period. Rhumbline Advisers owned about 0.09% of Braze worth $3,362,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Braze by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company’s stock valued at $321,542,000 after buying an additional 447,746 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Braze during the 1st quarter worth about $54,644,000. Fuller & Thaler Asset Management Inc. bought a new position in Braze during the 1st quarter worth about $50,988,000. Deutsche Bank AG increased its holdings in Braze by 3.9% during the 1st quarter. Deutsche Bank AG now owns 1,403,067 shares of the company’s stock worth $50,623,000 after purchasing an additional 52,047 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Braze by 9.5% during the 1st quarter. Wellington Management Group LLP now owns 1,307,700 shares of the company’s stock worth $47,182,000 after purchasing an additional 113,807 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

Shares of NASDAQ:BRZE opened at $30.39 on Tuesday. Braze, Inc. has a 52-week low of $23.91 and a 52-week high of $48.33. The company has a market capitalization of $3.38 billion, a P/E ratio of -29.22 and a beta of 1.10. The company has a 50-day simple moving average of $27.62 and a 200 day simple moving average of $30.69.

Insider Activity

In other Braze news, CEO William Magnuson sold 24,325 shares of the firm’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 $630,990.50. Following the completion of the sale, the chief executive officer directly owned 721,444 shares in the company, valued at $18,714,257.36. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Pankaj Malik sold 2,344 shares of Braze 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 owned 66,930 shares of the company’s stock, valued at approximately $1,736,164.20. The trade was a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,624 shares of company stock valued at $2,021,306. Company insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Braze in a report on Friday, September 5th. Piper Sandler increased their target price on Braze from $38.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Loop Capital lowered their target price on Braze from $75.00 to $45.00 and set a “buy” rating for the company in a report on Friday, June 6th. JPMorgan Chase & Co. lowered their target price on Braze from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, June 6th. Finally, Cantor Fitzgerald increased their target price on Braze from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Twenty research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.