Arizona State Retirement System Has $699,000 Stock Position in Braze, Inc. (NASDAQ:BRZE)

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

Other hedge funds also recently modified their holdings of the company. Fred Alger Management LLC bought a new position in Braze during the third quarter worth about $29,000. BluePath Capital Management LLC acquired a new stake in shares of Braze during the third quarter worth $31,000. Royal Bank of Canada increased its holdings 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 in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Braze in the 3rd quarter valued at about $61,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Braze by 70.0% in the third quarter. Advisors Asset Management Inc. now owns 1,406 shares of the company’s stock valued at $66,000 after purchasing an additional 579 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Stock Down 0.7 %

Braze stock opened at $39.25 on Friday. Braze, Inc. has a twelve month low of $25.76 and a twelve month high of $61.53. The stock has a market cap of $3.96 billion, a P/E ratio of -29.51 and a beta of 1.13. The company’s 50-day moving average price is $50.80 and its two-hundred day moving average price is $50.76.

Insider Transactions at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $41.79, for a total value of $62,685.00. Following the completion of the sale, the director now directly owns 11,056 shares in the company, valued at approximately $462,030.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $41.79, for a total transaction of $62,685.00. Following the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at $462,030.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now directly owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,815 shares of company stock worth $4,164,679. Company insiders own 26.48% of the company’s stock.

Analyst Ratings Changes

BRZE has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and issued a $75.00 target price on shares of Braze in a research report on Thursday, March 28th. Raymond James lowered their price target on shares of Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. JPMorgan Chase & Co. reduced their price objective on shares of Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, March 28th. William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Finally, DA Davidson reissued a “buy” rating and set a $65.00 price target on shares of Braze in a research report on Monday, March 25th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.