Connor Clark & Lunn Investment Management Ltd. Raises Position in Braze, Inc. (NASDAQ:BRZE)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 185.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 71,535 shares of the company’s stock after purchasing an additional 46,452 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Braze were worth $2,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRZE. Charles Schwab Investment Management Inc. boosted its holdings in Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after acquiring an additional 57,713 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Braze by 195.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after acquiring an additional 51,411 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Braze by 5.0% in the 3rd 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 last quarter. Intech Investment Management LLC acquired a new stake in Braze in the 3rd quarter worth approximately $673,000. Finally, Proficio Capital Partners LLC purchased a new stake in Braze during the 4th quarter worth approximately $498,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Stock Up 2.5 %

Shares of Braze stock opened at $36.17 on Tuesday. The firm has a market cap of $3.74 billion, a PE ratio of -31.73 and a beta of 1.17. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $55.47. The business has a 50-day moving average price of $40.81 and a 200 day moving average price of $38.22.

Insider Buying and Selling at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total value of $64,695.00. Following the sale, the director now owns 15,269 shares in the company, valued at $658,551.97. This trade represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Susan Wiseman sold 3,486 shares of the company’s stock in a transaction dated 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 owns 182,109 shares of the company’s stock, valued at approximately $7,288,002.18. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,580 shares of company stock valued at $7,409,749. Company insiders own 24.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BRZE. Stifel Nicolaus lifted their price objective on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lowered their price target on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Citigroup increased their price objective on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Braze in a research note on Monday, February 3rd. Finally, DA Davidson dropped their target price on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

About Braze

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.