Braze, Inc. (NASDAQ:BRZE) Major Shareholder Morad Elhafed Sells 10,000 Shares

Braze, Inc. (NASDAQ:BRZE) major shareholder Morad Elhafed sold 10,000 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $53.49, for a total transaction of $534,900.00. Following the completion of the transaction, the insider now owns 62,702 shares of the company’s stock, valued at approximately $3,353,929.98. The trade was a 13.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Braze Price Performance

Braze stock opened at $45.69 on Friday. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The stock has a market capitalization of $4.73 billion, a P/E ratio of -40.08 and a beta of 1.11. The firm’s 50-day moving average is $42.13 and its two-hundred day moving average is $38.70.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group cut their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Braze in a research report on Wednesday, January 15th. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Finally, DA Davidson cut their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.74.

Institutional Investors Weigh In On Braze

Several hedge funds have recently modified their holdings of BRZE. Blair William & Co. IL boosted its position in shares of Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after acquiring an additional 283 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Braze in the second quarter valued at approximately $229,000. ProShare Advisors LLC raised its holdings in Braze by 6.0% in the second quarter. ProShare Advisors LLC now owns 14,845 shares of the company’s stock valued at $577,000 after buying an additional 846 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in Braze in the second quarter valued at approximately $311,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Braze by 12.6% during the second quarter. The Manufacturers Life Insurance Company now owns 34,593 shares of the company’s stock valued at $1,344,000 after purchasing an additional 3,858 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

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.