Braze, Inc. (NASDAQ:BRZE) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its position in Braze, Inc. (NASDAQ:BRZE) by 86.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,107 shares of the company’s stock after selling 225,629 shares during the period. Point72 Asset Management L.P.’s holdings in Braze were worth $1,168,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Polar Asset Management Partners Inc. bought a new position in Braze in the 3rd quarter worth about $7,294,000. Holocene Advisors LP grew its holdings in Braze by 52.7% in the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after buying an additional 29,123 shares in the last quarter. Centiva Capital LP increased its position in Braze by 22.6% in the 3rd quarter. Centiva Capital LP now owns 31,033 shares of the company’s stock valued at $1,004,000 after acquiring an additional 5,719 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Braze by 42.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,904 shares of the company’s stock valued at $579,000 after acquiring an additional 5,355 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in Braze by 22.7% during the 3rd quarter. MetLife Investment Management LLC now owns 37,644 shares of the company’s stock worth $1,217,000 after acquiring an additional 6,955 shares during the period. 90.47% of the stock is currently owned by institutional investors.

Insider Activity at Braze

In other news, CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the transaction, the chief accounting officer now directly owns 67,095 shares of the company’s stock, valued at approximately $2,311,422.75. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Myles Kleeger sold 6,342 shares of Braze stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total value of $228,502.26. Following the sale, the insider now directly owns 184,396 shares of the company’s stock, valued at approximately $6,643,787.88. The trade was a 3.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,979 shares of company stock valued at $3,688,914. Company insiders own 24.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BRZE. Macquarie began coverage on Braze in a report on Thursday, October 31st. They set a “neutral” rating and a $30.00 price target on the stock. The Goldman Sachs Group dropped their price target on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. UBS Group decreased their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Barclays decreased their price target on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Braze has an average rating of “Moderate Buy” and a consensus price target of $53.63.

Braze Stock Down 2.0 %

Shares of NASDAQ:BRZE opened at $40.95 on Wednesday. The company’s fifty day moving average is $34.46 and its two-hundred day moving average is $37.25. The company has a market cap of $4.21 billion, a P/E ratio of -35.92 and a beta of 1.15. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53.

About Braze

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.