Eagle Bay Advisors LLC Has $1.37 Million Holdings in Braze, Inc. (NASDAQ:BRZE)

Eagle Bay Advisors LLC cut its position in shares of Braze, Inc. (NASDAQ:BRZE) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,616 shares of the company’s stock after selling 1,001 shares during the quarter. Braze comprises about 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.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Braze by 12.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after buying an additional 57,713 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Braze during the second quarter worth $10,166,000. Victory Capital Management Inc. grew its holdings in Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after purchasing an additional 19,567 shares during the period. Mackenzie Financial Corp acquired a new stake in Braze in the second quarter worth $971,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Braze by 195.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after purchasing an additional 51,411 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BRZE shares. Citigroup raised their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. UBS Group reduced their price target 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. Loop Capital reiterated a “buy” rating and set a $75.00 price objective on shares of Braze in a report on Tuesday, September 24th. Oppenheimer reiterated an “outperform” rating and set a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. Finally, Macquarie lifted their price objective on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Braze presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Insiders Place Their Bets

In other news, insider Myles Kleeger sold 9,225 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $317,801.25. Following the sale, the insider now owns 190,738 shares of the company’s stock, valued at $6,570,924.10. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $42.02, for a total transaction of $63,030.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at approximately $641,603.38. This trade represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,083 shares of company stock valued at $7,260,773. Company insiders own 24.03% of the company’s stock.

Braze Stock Performance

BRZE stock traded down $0.60 during mid-day trading 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 firm has a market cap of $4.35 billion, a PE ratio of -36.87 and a beta of 1.11. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53. The stock’s fifty day moving average price is $40.26 and its two-hundred day moving average price is $38.34.

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.