Virtu Financial LLC Makes New Investment in Braze, Inc. (NASDAQ:BRZE)

Virtu Financial LLC bought a new stake in shares of Braze, Inc. (NASDAQ:BRZE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,837 shares of the company’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Braze during the second quarter worth $50,000. KBC Group NV raised its stake in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares during the last quarter. Evoke Wealth LLC acquired a new stake in shares of Braze during the 2nd quarter valued at about $215,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Braze in the 2nd quarter valued at approximately $229,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the transaction, the chief accounting officer now owns 67,095 shares of the company’s stock, valued at $2,311,422.75. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Magnuson sold 17,933 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $617,791.85. Following the completion of the transaction, the chief executive officer now directly owns 582,816 shares in the company, valued at $20,078,011.20. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,090 shares of company stock valued at $4,118,955. 24.03% of the stock is currently owned by company insiders.

Braze Price Performance

BRZE opened at $44.75 on Wednesday. The company has a market capitalization of $4.60 billion, a P/E ratio of -39.25 and a beta of 1.15. The firm’s fifty day moving average price is $35.40 and its two-hundred day moving average price is $37.32. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. The Goldman Sachs Group dropped 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 target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. TD Cowen reduced their price target on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Piper Sandler increased their price objective on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, JMP Securities restated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.74.

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.