Short Interest in Braze, Inc. (NASDAQ:BRZE) Increases By 16.0%

Braze, Inc. (NASDAQ:BRZE) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 4,570,000 shares, a growth of 16.0% from the January 15th total of 3,940,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is presently 3.4 days. Approximately 6.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BRZE shares. Macquarie boosted their target price on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. The Goldman Sachs Group lowered their price objective on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Stifel Nicolaus boosted their price target on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Citigroup raised their price objective on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.74.

Insider Activity at Braze

In other news, insider Myles Kleeger sold 6,342 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total value of $228,502.26. Following the completion of the sale, the insider now directly owns 184,396 shares in the company, valued at $6,643,787.88. This represents a 3.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Susan Wiseman sold 3,557 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $36.02, for a total transaction of $128,123.14. Following the transaction, the general counsel now owns 199,520 shares in the company, valued at $7,186,710.40. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,210 shares of company stock valued at $6,372,368. 24.03% of the stock is owned by corporate insiders.

Institutional Trading of Braze

Institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV grew its holdings in Braze by 2.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock valued at $559,000 after purchasing an additional 316 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Braze by 3.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after acquiring an additional 346 shares during the last quarter. Amalgamated Bank increased its holdings in Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after acquiring an additional 405 shares in the last quarter. Finally, KBC Group NV raised its position in 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 acquiring an additional 615 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Trading Down 0.6 %

Shares of NASDAQ BRZE traded down $0.27 during midday trading on Monday, reaching $41.51. 791,930 shares of the company were exchanged, compared to its average volume of 1,032,896. The stock has a market cap of $4.30 billion, a P/E ratio of -36.41 and a beta of 1.13. Braze has a 1 year low of $29.18 and a 1 year high of $59.98. The stock has a fifty day simple moving average of $43.51 and a 200 day simple moving average of $38.98.

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.