Peregrine Capital Management LLC Has $9.59 Million Position in Braze, Inc. (NASDAQ:BRZE)

Peregrine Capital Management LLC lifted its position in Braze, Inc. (NASDAQ:BRZE) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,006 shares of the company’s stock after acquiring an additional 4,109 shares during the period. Peregrine Capital Management LLC owned approximately 0.22% of Braze worth $9,591,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Braze by 146.9% in the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock worth $58,489,000 after purchasing an additional 1,075,998 shares during the period. State Street Corp increased its position in shares of Braze by 21.5% in the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after buying an additional 279,050 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Braze by 69.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after acquiring an additional 612,400 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in Braze by 20.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock valued at $32,343,000 after acquiring an additional 129,298 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 3,557 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $36.02, for a total value of $128,123.14. Following the transaction, the general counsel now directly owns 199,520 shares of the company’s stock, valued at $7,186,710.40. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Myles Kleeger sold 6,342 shares of Braze stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $36.03, for a total transaction of $228,502.26. Following the sale, the insider now directly owns 184,396 shares of the company’s stock, valued at $6,643,787.88. The trade was a 3.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,210 shares of company stock worth $6,372,368. Insiders own 24.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group cut their price target on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Citigroup boosted their price objective on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Braze in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.74.

Braze Price Performance

Shares of BRZE opened at $41.51 on Tuesday. The company has a market cap of $4.30 billion, a PE ratio of -36.41 and a beta of 1.13. The firm has a 50-day moving average of $43.50 and a 200-day moving average of $38.97. Braze, Inc. has a one year low of $29.18 and a one year high of $59.98.

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.