Insider Selling: Braze, Inc. (NASDAQ:BRZE) Major Shareholder Sells 10,000 Shares of Stock

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

Braze Stock Up 0.3 %

Braze stock opened at $45.69 on Friday. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The firm’s fifty day moving average is $42.13 and its 200 day moving average is $38.69. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -40.08 and a beta of 1.11.

Institutional Trading of Braze

A number of large investors have recently made changes to their positions in BRZE. Quarry LP bought a new stake in Braze in the second quarter worth $50,000. KBC Group NV raised its stake in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares during the period. Amalgamated Bank lifted its holdings in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Braze during the 2nd quarter worth about $229,000. Finally, Moody National Bank Trust Division bought a new position in Braze during the 4th quarter valued at about $233,000. 90.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Oppenheimer reiterated an “outperform” rating and issued a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company dropped their target price 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. Finally, Citigroup raised their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.