Braze, Inc. (NASDAQ:BRZE) Short Interest Update

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BRZE shares. DA Davidson lowered their price target on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price 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. Stifel Nicolaus raised their price target on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Macquarie lifted their price objective on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.74.

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 10,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the sale, the general counsel now owns 189,520 shares of the company’s stock, valued at $8,949,134.40. This represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Myles Kleeger sold 6,342 shares of Braze stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $36.03, for a total transaction of $228,502.26. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders sold 143,210 shares of company stock valued at $6,372,368. Corporate insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Braze by 12.8% during the 3rd quarter. Creative Planning now owns 26,089 shares of the company’s stock valued at $844,000 after acquiring an additional 2,968 shares during the period. Northside Capital Management LLC acquired a new stake in Braze in the third quarter valued at approximately $281,000. AMI Asset Management Corp increased its position in shares of Braze by 25.8% in the third quarter. AMI Asset Management Corp now owns 33,438 shares of the company’s stock valued at $1,081,000 after buying an additional 6,852 shares in the last quarter. US Bancorp DE raised its stake in shares of Braze by 38.1% during the 3rd quarter. US Bancorp DE now owns 25,737 shares of the company’s stock worth $832,000 after buying an additional 7,103 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new position in shares of Braze during the 3rd quarter worth approximately $20,794,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Down 0.6 %

Shares of NASDAQ:BRZE traded down $0.27 during trading on Monday, hitting $41.51. 791,930 shares of the stock traded hands, compared to its average volume of 1,032,896. The company has a fifty day moving average price of $43.51 and a two-hundred day moving average price of $38.98. Braze has a 52-week low of $29.18 and a 52-week high of $59.98. The company has a market cap of $4.30 billion, a price-to-earnings ratio of -36.41 and a beta of 1.13.

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.