Insider Selling: Braze, Inc. (NASDAQ:BRZE) CAO Sells 3,955 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,955 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $41.41, for a total value of $163,776.55. Following the completion of the sale, the chief accounting officer now directly owns 63,140 shares of the company’s stock, valued at approximately $2,614,627.40. This trade represents a 5.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, December 16th, Pankaj Malik sold 4,656 shares of Braze stock. The shares were sold at an average price of $43.65, for a total value of $203,234.40.
• 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 Trading Up 1.5 %

Braze stock opened at $44.00 on Friday. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of -38.60 and a beta of 1.15. The business’s fifty day simple moving average is $36.25 and its two-hundred day simple moving average is $37.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays dropped their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price (down from $70.00) on shares of Braze in a research note on Tuesday, December 10th. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. Stifel Nicolaus lifted their price objective on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, UBS Group reduced their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Braze has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Hedge Funds Weigh In On Braze

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Braze in the third quarter worth about $253,000. Geode Capital Management LLC increased its position 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 valued at $48,428,000 after acquiring an additional 229,660 shares in the last quarter. Vestcor Inc purchased a new position in Braze in the 3rd quarter worth approximately $1,617,000. Bullseye Asset Management LLC lifted its position in Braze by 14.3% in the 3rd quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock valued at $801,000 after acquiring an additional 3,100 shares in the last quarter. Finally, Barclays PLC boosted its stake in Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after purchasing an additional 64,093 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

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.