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

King Luther Capital Management Corp raised its position in Braze, Inc. (NASDAQ:BRZE) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,887 shares of the company’s stock after acquiring an additional 17,731 shares during the quarter. King Luther Capital Management Corp owned approximately 0.12% of Braze worth $5,147,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BRZE. Amalgamated Bank raised its position in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares during the period. Assetmark Inc. raised its position in shares of Braze by 7.6% in the third quarter. Assetmark Inc. now owns 27,181 shares of the company’s stock valued at $879,000 after purchasing an additional 1,923 shares during the period. Victory Capital Management Inc. raised its position in shares of Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after purchasing an additional 19,567 shares during the period. KBC Group NV raised its position in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Braze in the third quarter valued at about $1,746,000. 90.47% of the stock is owned by institutional investors.

Braze Trading Up 6.0 %

BRZE opened at $35.60 on Thursday. The company’s 50 day moving average is $41.52 and its 200-day moving average is $38.51. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $55.47. The company has a market cap of $3.68 billion, a P/E ratio of -31.23 and a beta of 1.17.

Insider Activity

In other news, General Counsel Susan Wiseman sold 41,210 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.09, for a total value of $1,858,158.90. Following the sale, the general counsel now directly owns 199,520 shares in the company, valued at approximately $8,996,356.80. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Magnuson sold 18,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,581 shares of company stock worth $8,059,840. Corporate insiders own 24.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. Stifel Nicolaus raised their price target on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. DA Davidson lowered their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company lowered their price target 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. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze 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.