Braze, Inc. (NASDAQ:BRZE) Major Shareholder Sells $534,900.00 in Stock

Braze, Inc. (NASDAQ:BRZE) major shareholder Morad Elhafed sold 10,000 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $53.49, for a total transaction of $534,900.00. Following the completion of the transaction, the insider now directly owns 62,702 shares of the company’s stock, valued at $3,353,929.98. This represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Braze Price Performance

Shares of NASDAQ BRZE traded up $0.12 during mid-day trading on Friday, hitting $45.69. 767,602 shares of the stock traded hands, compared to its average volume of 1,096,393. The company has a market cap of $4.73 billion, a PE ratio of -40.08 and a beta of 1.11. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The firm has a 50 day simple moving average of $41.91 and a two-hundred day simple moving average of $38.65.

Institutional Trading of Braze

Several hedge funds and other institutional investors have recently made changes to their positions in BRZE. Quarry LP bought a new stake in Braze in the second quarter valued at approximately $50,000. KBC Group NV increased its position in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares during the period. Amalgamated Bank raised its stake in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after buying an additional 358 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Braze during the second quarter valued at $229,000. Finally, Moody National Bank Trust Division acquired a new stake in Braze during the 4th quarter worth about $233,000. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BRZE shares. Citigroup upped their price objective on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. DA Davidson lowered their target price on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Wednesday, January 15th. Finally, Macquarie boosted their target price on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.74.

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.