Braze, Inc. (NASDAQ:BRZE) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its position in shares of Braze, Inc. (NASDAQ:BRZE) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,828 shares of the company’s stock after buying an additional 346 shares during the period. Harbor Capital Advisors Inc.’s holdings in Braze were worth $453,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Braze by 146.9% during the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock worth $58,489,000 after buying an additional 1,075,998 shares during the period. State Street Corp raised its position in shares of Braze by 21.5% during the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after purchasing an additional 279,050 shares during the last quarter. Geode Capital Management LLC lifted its stake in Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Braze by 69.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after buying an additional 612,400 shares during the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in Braze during the third quarter worth $20,794,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BRZE shares. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Loop Capital reiterated a “buy” rating and set a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Stifel Nicolaus upped their price objective on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Oppenheimer restated an “outperform” rating and set a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group cut their price target on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 41,210 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $45.09, for a total value of $1,858,158.90. Following the completion of the sale, the general counsel now directly owns 199,520 shares in the company, valued at approximately $8,996,356.80. This represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jonathan Hyman sold 6,930 shares of the firm’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 163,020 shares in the company, valued at $5,616,039. This trade represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 173,083 shares of company stock valued at $7,260,773 over the last 90 days. Corporate insiders own 24.03% of the company’s stock.

Braze Stock Performance

NASDAQ BRZE opened at $41.86 on Wednesday. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -36.72 and a beta of 1.11. Braze, Inc. has a one year low of $29.18 and a one year high of $61.53. The company’s 50 day moving average price is $40.45 and its 200 day moving average price is $38.36.

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.