King Luther Capital Management Corp Has $5.15 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

King Luther Capital Management Corp increased its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 16.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,887 shares of the company’s stock after buying an additional 17,731 shares during the period. King Luther Capital Management Corp’s holdings in Braze were worth $5,147,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Braze by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after purchasing an additional 57,713 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Braze by 195.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after purchasing an additional 51,411 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Braze by 5.0% during the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after purchasing an additional 19,567 shares during the last quarter. Intech Investment Management LLC bought a new position in Braze during the 3rd quarter worth approximately $673,000. Finally, Holocene Advisors LP raised its holdings in Braze by 52.7% during the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after purchasing an additional 29,123 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Price Performance

BRZE opened at $35.60 on Thursday. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -31.23 and a beta of 1.17. The firm’s fifty day moving average price is $41.52 and its two-hundred day moving average price is $38.51. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $55.47.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BRZE. Citigroup raised their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Stifel Nicolaus lifted 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 reiterated an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. Finally, Piper Sandler lifted their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. One 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.com, Braze has an average rating of “Moderate Buy” and a consensus target price of $53.74.

Insiders Place Their Bets

In other Braze news, insider Myles Kleeger sold 2,100 shares of Braze stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.00, for a total transaction of $94,500.00. Following the transaction, the insider now directly owns 184,396 shares of the company’s stock, valued at $8,297,820. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction 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 transaction, the general counsel now directly owns 182,109 shares in the company, valued at $7,288,002.18. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,581 shares of company stock valued at $8,059,840 in the last three months. 24.03% of the stock is currently owned by insiders.

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.