JPMorgan Chase & Co. Increases Stock Position in Braze, Inc. (NASDAQ:BRZE)

JPMorgan Chase & Co. grew its position in shares of Braze, Inc. (NASDAQ:BRZE) by 146.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,808,577 shares of the company’s stock after purchasing an additional 1,075,998 shares during the quarter. JPMorgan Chase & Co.’s holdings in Braze were worth $58,489,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after acquiring an additional 57,713 shares during the period. Point72 Asset Management L.P. acquired a new position in Braze in the second quarter valued at $10,166,000. Victory Capital Management Inc. raised its holdings in shares of Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after buying an additional 19,567 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Braze during the second quarter worth about $971,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Braze by 195.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after buying an additional 51,411 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Transactions at Braze

In other news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares of the company’s stock, valued at $1,720,244.10. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Myles Kleeger sold 37,900 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the sale, the insider now owns 184,396 shares in the company, valued at approximately $8,318,103.56. This trade represents a 17.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 203,590 shares of company stock valued at $7,762,293 over the last three months. 24.03% of the stock is currently owned by insiders.

Braze Stock Performance

BRZE stock opened at $44.87 on Friday. The stock’s 50 day moving average price is $38.99 and its 200 day moving average price is $38.00. The firm has a market cap of $4.64 billion, a P/E ratio of -39.36 and a beta of 1.15. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BRZE shares. Wells Fargo & Company decreased their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Piper Sandler lifted their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. TD Cowen cut their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Stifel Nicolaus lifted their target price on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. One research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

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.