Sciencast Management LP Takes Position in Braze, Inc. (NASDAQ:BRZE)

Sciencast Management LP purchased a new stake in shares of Braze, Inc. (NASDAQ:BRZE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,760 shares of the company’s stock, valued at approximately $576,000.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after acquiring an additional 928 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Braze during the 4th quarter valued at $47,000. KBC Group NV grew its holdings in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of Braze during the 4th quarter valued at $115,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Braze during the 4th quarter valued at $165,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating and set a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Wells Fargo & Company decreased their price objective on shares of Braze from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. Stifel Nicolaus upped their price objective on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Raymond James decreased their price objective on shares of Braze from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Braze presently has an average rating of “Buy” and an average target price of $52.45.

Braze Stock Up 2.7 %

NASDAQ:BRZE opened at $37.03 on Friday. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $52.26. The firm has a market capitalization of $3.83 billion, a PE ratio of -32.48 and a beta of 1.17. The firm has a 50-day moving average price of $40.20 and a 200 day moving average price of $38.04.

Insider Buying and Selling

In related news, insider Myles Kleeger sold 10,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.43, for a total value of $454,300.00. Following the completion of the transaction, the insider now owns 184,396 shares of the company’s stock, valued at $8,377,110.28. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Susan Wiseman sold 3,486 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total transaction of $139,509.72. Following the sale, the general counsel now directly owns 182,109 shares of the company’s stock, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock valued at $3,841,921 over the last quarter. Corporate insiders own 24.03% of the company’s stock.

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.