Eagle Bay Advisors LLC Sells 1,001 Shares of Braze, Inc. (NASDAQ:BRZE)

Eagle Bay Advisors LLC trimmed its position in Braze, Inc. (NASDAQ:BRZE) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,616 shares of the company’s stock after selling 1,001 shares during the quarter. Braze makes up 0.9% of Eagle Bay Advisors LLC’s holdings, making the stock its 23rd largest position. Eagle Bay Advisors LLC’s holdings in Braze were worth $1,366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BRZE. JPMorgan Chase & Co. grew its stake in Braze by 146.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after buying an additional 1,075,998 shares during the last quarter. State Street Corp grew its stake in Braze by 21.5% in the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after buying an additional 279,050 shares during the last quarter. Geode Capital Management LLC grew its stake in Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Braze by 69.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after buying an additional 612,400 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new position in Braze in the 3rd quarter valued at about $20,794,000. 90.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on BRZE shares. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Citigroup increased their target price on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Piper Sandler increased their target price on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Oppenheimer restated an “outperform” rating and set a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and an average price target of $53.74.

Insider Activity at Braze

In other news, insider Myles Kleeger sold 9,225 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $317,801.25. Following the completion of the transaction, the insider now owns 190,738 shares of the company’s stock, valued at approximately $6,570,924.10. This trade represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Pankaj Malik sold 3,432 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $118,232.40. Following the transaction, the chief accounting officer now directly owns 67,095 shares of the company’s stock, valued at $2,311,422.75. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,083 shares of company stock valued at $7,260,773 in the last quarter. Insiders own 24.03% of the company’s stock.

Braze Trading Down 1.4 %

NASDAQ:BRZE traded down $0.60 on Monday, hitting $42.03. The company had a trading volume of 280,614 shares, compared to its average volume of 1,165,717. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of -36.87 and a beta of 1.11. The firm has a 50 day moving average of $40.26 and a two-hundred day moving average of $38.34. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53.

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.