Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez Sells 1,500 Shares

Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total transaction of $61,950.00. Following the completion of the transaction, the director now owns 15,269 shares in the company, valued at approximately $630,609.70. This represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Braze Trading Down 0.4 %

Shares of NASDAQ BRZE traded down $0.18 during mid-day trading on Thursday, reaching $40.66. The company had a trading volume of 1,315,267 shares, compared to its average volume of 1,127,326. The firm has a 50 day simple moving average of $43.46 and a two-hundred day simple moving average of $39.02. The stock has a market cap of $4.21 billion, a P/E ratio of -35.67 and a beta of 1.13. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $59.12.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after buying an additional 57,713 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Braze by 195.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after purchasing an additional 51,411 shares during the last quarter. Victory Capital Management Inc. grew its position in Braze by 5.0% during the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after purchasing an additional 19,567 shares during the last quarter. Intech Investment Management LLC purchased a new position in Braze during the 3rd quarter worth $673,000. Finally, Holocene Advisors LP grew its position in Braze by 52.7% during the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after purchasing an additional 29,123 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. Oppenheimer reiterated an “outperform” rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. William Blair reiterated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Braze presently has an average rating of “Moderate Buy” and an average 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.