Braze, Inc. (NASDAQ:BRZE) Stock Position Lifted by Bullseye Asset Management LLC

Bullseye Asset Management LLC lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 14.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 24,750 shares of the company’s stock after purchasing an additional 3,100 shares during the quarter. Bullseye Asset Management LLC’s holdings in Braze were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP bought a new position in Braze during the 2nd quarter worth $50,000. Comerica Bank grew its position in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares during the last quarter. KBC Group NV increased its holdings in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares during the period. Amalgamated Bank lifted its position in Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares during the last quarter. Finally, Canton Hathaway LLC boosted its stake in Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after purchasing an additional 1,187 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Braze

In other news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total value of $144,540.00. Following the completion of the transaction, the chief financial officer now owns 216,208 shares of the company’s stock, valued at approximately $6,944,600.96. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the transaction, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,979 shares of company stock worth $3,688,914 in the last quarter. 24.03% of the stock is owned by company insiders.

Braze Stock Performance

BRZE opened at $41.80 on Tuesday. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of -35.42 and a beta of 1.15. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The firm’s 50-day simple moving average is $34.29 and its 200-day simple moving average is $37.25.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Oppenheimer reduced their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Piper Sandler lowered their price target on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Finally, TD Cowen decreased their target price 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. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.95.

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.