Insider Selling: Braze, Inc. (NASDAQ:BRZE) Director Sells 1,500 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $42.02, for a total value of $63,030.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at approximately $641,603.38. This represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Braze Stock Performance

BRZE stock traded down $0.03 during mid-day trading on Tuesday, reaching $44.75. 1,472,968 shares of the stock traded hands, compared to its average volume of 1,086,632. The business has a 50-day moving average price of $35.40 and a two-hundred day moving average price of $37.32. The stock has a market capitalization of $4.60 billion, a PE ratio of -39.25 and a beta of 1.15. Braze, Inc. has a one year low of $29.18 and a one year high of $61.53.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BRZE shares. TD Cowen decreased their target price on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. UBS Group reduced their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Loop Capital restated a “buy” rating and set a $75.00 target price on shares of Braze in a research report on Tuesday, September 24th. Macquarie lifted their price target on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Braze in the third quarter worth approximately $253,000. Geode Capital Management LLC grew its position in Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after acquiring an additional 229,660 shares during the last quarter. Vestcor Inc purchased a new stake in Braze in the third quarter worth $1,617,000. Bullseye Asset Management LLC lifted its position in shares of Braze by 14.3% during the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Braze by 148.1% during the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after purchasing an additional 64,093 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.