Insider Selling: Braze, Inc. (NASDAQ:BRZE) Insider Sells 37,900 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 37,900 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.11, for a total value of $1,709,669.00. Following the completion of the sale, the insider now owns 184,396 shares of the company’s stock, valued at $8,318,103.56. The trade was a 17.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Myles Kleeger also recently made the following trade(s):

• On Monday, December 16th, Myles Kleeger sold 2,100 shares of Braze stock. The shares were sold at an average price of $45.00, for a total value of $94,500.00.
• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The stock was sold at an average price of $36.03, for a total value of $228,502.26.
• On Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The shares were sold at an average price of $34.45, for a total transaction of $317,801.25.

Braze Price Performance

Braze stock opened at $44.31 on Friday. The business has a 50 day simple moving average of $36.25 and a 200-day simple moving average of $37.46. The stock has a market capitalization of $4.55 billion, a PE ratio of -38.87 and a beta of 1.15. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently modified their holdings of BRZE. State Street Corp increased its position in shares of Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after purchasing an additional 279,050 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after buying an additional 229,660 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Braze by 69.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after buying an additional 612,400 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of Braze by 1.0% in the second quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after buying an additional 7,570 shares in the last quarter. Finally, Stephens Investment Management Group LLC acquired a new position in Braze during the third quarter worth about $20,794,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup raised their price objective on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Macquarie increased their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price (down previously from $70.00) on shares of Braze in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and a consensus target price 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.