Pankaj Malik Sells 3,700 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,700 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the transaction, the chief accounting officer now directly owns 54,784 shares in the company, valued at $2,507,463.68. This represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Pankaj Malik also recently made the following trade(s):

• On Monday, December 16th, Pankaj Malik sold 4,656 shares of Braze stock. The stock was sold at an average price of $43.65, for a total transaction of $203,234.40.
• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The shares were sold at an average price of $41.41, for a total transaction of $163,776.55.
• On Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40.

Braze Stock Down 1.0 %

Shares of BRZE stock traded down $0.45 during trading hours on Wednesday, hitting $44.15. 910,053 shares of the company were exchanged, compared to its average volume of 1,424,351. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53. The firm has a fifty day moving average of $39.78 and a 200 day moving average of $38.21. The firm has a market cap of $4.57 billion, a PE ratio of -38.73 and a beta of 1.11.

Analysts Set New Price Targets

BRZE has been the subject of a number of research reports. Loop Capital reiterated a “buy” rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. UBS Group reduced their price objective on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Citigroup upped their target price on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price target on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, TD Cowen lowered their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Hedge Funds Weigh In On Braze

A number of hedge funds have recently made changes to their positions in BRZE. Charles Schwab Investment Management Inc. raised 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 worth $16,486,000 after buying an additional 57,713 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Braze in the 2nd quarter worth about $10,166,000. Victory Capital Management Inc. grew its holdings in shares of 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 period. Mackenzie Financial Corp acquired a new stake in Braze during the 2nd quarter worth approximately $971,000. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Braze by 195.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after buying an additional 51,411 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.