JPMorgan Chase & Co. Purchases 139,133 Shares of Braze, Inc. $BRZE

JPMorgan Chase & Co. lifted its position in shares of Braze, Inc. (NASDAQ:BRZE) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,455,367 shares of the company’s stock after acquiring an additional 139,133 shares during the quarter. JPMorgan Chase & Co.’s holdings in Braze were worth $69,831,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Citizens Financial Group Inc. RI bought a new position in Braze in the second quarter valued at about $736,000. Jefferies Financial Group Inc. grew its holdings in shares of Braze by 412.2% during the third quarter. Jefferies Financial Group Inc. now owns 99,761 shares of the company’s stock worth $2,837,000 after purchasing an additional 80,285 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Braze by 10.9% during the second quarter. Geode Capital Management LLC now owns 1,797,546 shares of the company’s stock worth $50,517,000 after purchasing an additional 177,391 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Braze in the second quarter valued at approximately $3,273,000. Finally, Rede Wealth LLC acquired a new position in shares of Braze in the third quarter valued at approximately $864,000. Institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 2,893 shares of Braze stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $48,978.49. Following the completion of the transaction, the chief accounting officer owned 50,679 shares of the company’s stock, valued at $857,995.47. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jonathan Hyman sold 7,391 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $125,129.63. Following the completion of the transaction, the chief technology officer owned 1,692,933 shares in the company, valued at approximately $28,661,355.69. The trade was a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,676 shares of company stock worth $1,027,661. Corporate insiders own 18.20% of the company’s stock.

Braze Price Performance

Shares of BRZE stock opened at $18.88 on Thursday. The stock has a market capitalization of $2.12 billion, a PE ratio of -17.16 and a beta of 1.08. The business’s 50 day simple moving average is $20.85 and its 200 day simple moving average is $26.84. Braze, Inc. has a one year low of $15.26 and a one year high of $43.89.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 target price on shares of Braze in a research report on Wednesday, December 10th. Citigroup upped their price target on shares of Braze from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Stifel Nicolaus set a $40.00 price target on shares of Braze in a research note on Monday, February 9th. Citizens Jmp reiterated a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Braze from $45.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.65.

Braze Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.