KBC Group NV Grows Position in Braze, Inc. (NASDAQ:BRZE)

KBC Group NV boosted its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 39.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,929 shares of the company’s stock after purchasing an additional 832 shares during the period. KBC Group NV’s holdings in Braze were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BRZE. The Manufacturers Life Insurance Company raised its holdings in Braze by 12.6% in the second quarter. The Manufacturers Life Insurance Company now owns 34,593 shares of the company’s stock valued at $1,344,000 after buying an additional 3,858 shares during the period. Creative Planning increased its position in shares of Braze by 1.7% in the second quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after acquiring an additional 384 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Braze in the 3rd quarter valued at $634,000. Congress Park Capital LLC lifted its holdings in shares of Braze by 4.5% during the 3rd quarter. Congress Park Capital LLC now owns 38,955 shares of the company’s stock valued at $1,260,000 after acquiring an additional 1,671 shares in the last quarter. Finally, Renaissance Capital LLC grew its stake in shares of Braze by 51.2% in the third quarter. Renaissance Capital LLC now owns 70,574 shares of the company’s stock valued at $2,282,000 after buying an additional 23,901 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson cut their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Stifel Nicolaus boosted their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Finally, Macquarie lifted their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Stock Down 3.1 %

BRZE stock opened at $41.22 on Friday. The company has a market capitalization of $4.27 billion, a P/E ratio of -36.16 and a beta of 1.13. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The company has a 50-day simple moving average of $43.40 and a 200 day simple moving average of $39.02.

Insider Activity

In related news, CTO Jonathan Hyman sold 6,930 shares of the company’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 $238,738.50. Following the completion of the sale, the chief technology officer now owns 163,020 shares in the company, valued at approximately $5,616,039. This represents a 4.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 9,225 shares of Braze stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $317,801.25. Following the transaction, the insider now owns 190,738 shares in the company, valued at approximately $6,570,924.10. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,583 shares of company stock worth $7,797,668. 24.03% of the stock is owned by company insiders.

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.