JPMorgan Chase & Co. Has $69.83 Million Position in Braze, Inc. $BRZE

JPMorgan Chase & Co. boosted its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,455,367 shares of the company’s stock after acquiring an additional 139,133 shares during the period. JPMorgan Chase & Co. owned 2.19% of Braze worth $69,831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRZE. Champlain Investment Partners LLC grew its holdings in shares of Braze by 10.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,687,928 shares of the company’s stock worth $76,445,000 after purchasing an additional 261,351 shares in the last quarter. Battery Management CORP. increased its position in shares of Braze by 70.2% in the third quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock worth $68,967,000 after purchasing an additional 1,000,000 shares during the period. Alliancebernstein L.P. raised its stake in Braze by 28.8% in the second quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock valued at $65,197,000 after purchasing an additional 518,103 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Braze by 36.1% in the third quarter. Westfield Capital Management Co. LP now owns 2,177,953 shares of the company’s stock valued at $61,941,000 after purchasing an additional 577,649 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 period. 90.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BRZE. Stifel Nicolaus set a $40.00 price objective on shares of Braze in a research note on Monday, February 9th. Piper Sandler dropped their target price on shares of Braze from $50.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. Wells Fargo & Company upped their price target on shares of Braze from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Mizuho increased their price target on shares of Braze from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Braze from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.65.

Braze Stock Down 2.0%

Braze stock opened at $18.88 on Thursday. Braze, Inc. has a 12-month low of $15.26 and a 12-month high of $43.89. The business’s 50-day moving average price is $20.85 and its two-hundred day moving average price is $26.84. The stock has a market cap of $2.12 billion, a PE ratio of -17.16 and a beta of 1.08.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $17.03, for a total transaction of $70,964.01. Following the completion of the transaction, the general counsel directly owned 209,864 shares in the company, valued at $3,573,983.92. This represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jonathan Hyman sold 7,391 shares of the stock in a transaction that occurred 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 directly owned 1,692,933 shares of the company’s stock, valued at approximately $28,661,355.69. The trade was a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,676 shares of company stock worth $1,027,661 in the last quarter. Corporate insiders own 18.20% of the company’s stock.

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.