Parallel Advisors LLC Has $31,000 Stock Holdings in Braze, Inc. $BRZE

Parallel Advisors LLC lowered its position in Braze, Inc. (NASDAQ:BRZE) by 49.4% during the second quarter, Holdings Channel reports. The firm owned 1,117 shares of the company’s stock after selling 1,090 shares during the period. Parallel Advisors LLC’s holdings in Braze were worth $31,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Rhumbline Advisers increased its holdings in shares of Braze by 6.3% in the first quarter. Rhumbline Advisers now owns 93,189 shares of the company’s stock worth $3,362,000 after purchasing an additional 5,532 shares during the period. Strs Ohio purchased a new stake in Braze during the 1st quarter valued at $220,000. Intech Investment Management LLC raised its holdings in shares of Braze by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock valued at $1,453,000 after purchasing an additional 6,379 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Braze in the first quarter valued at about $691,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Braze by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock valued at $1,415,000 after acquiring an additional 1,700 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William Magnuson sold 24,325 shares of Braze stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $630,990.50. Following the completion of the transaction, the chief executive officer directly owned 721,444 shares of the company’s stock, valued at approximately $18,714,257.36. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Susan Wiseman sold 4,943 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $25.14, for a total transaction of $124,267.02. Following the transaction, the general counsel directly owned 229,724 shares of the company’s stock, valued at approximately $5,775,261.36. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,798 shares of company stock worth $2,158,088 over the last quarter. 18.20% of the stock is owned by insiders.

Braze Stock Up 1.0%

Shares of NASDAQ:BRZE opened at $31.58 on Friday. The business’s 50 day moving average is $28.37 and its 200 day moving average is $30.55. The stock has a market cap of $3.51 billion, a P/E ratio of -30.37 and a beta of 1.10. Braze, Inc. has a 52-week low of $23.91 and a 52-week high of $48.33.

Analysts Set New Price Targets

BRZE has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $40.00 target price on shares of Braze in a report on Friday, September 5th. Oppenheimer decreased their price objective on shares of Braze from $44.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Loop Capital reduced their target price on shares of Braze from $75.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, June 6th. Macquarie dropped their target price on Braze from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Finally, The Goldman Sachs Group set a $52.00 target price on Braze and gave the stock a “buy” rating in a report on Saturday, September 6th. Nineteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

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.