Pankaj Malik Sells 3,700 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,700 shares of Braze stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the completion of the sale, the chief accounting officer now directly owns 54,784 shares in the company, valued at $2,507,463.68. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, December 16th, Pankaj Malik sold 4,656 shares of Braze stock. The stock was sold at an average price of $43.65, for a total value of $203,234.40.
• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The shares were sold at an average price of $41.41, for a total value of $163,776.55.
• On Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The shares were sold at an average price of $34.45, for a total value of $118,232.40.

Braze Stock Down 1.0 %

Shares of BRZE stock opened at $44.15 on Friday. The business has a 50-day moving average price of $40.04 and a two-hundred day moving average price of $38.25. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The firm has a market cap of $4.57 billion, a P/E ratio of -38.73 and a beta of 1.11.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. UBS Group reduced their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. JMP Securities restated a “market outperform” rating and set a $68.00 target price on shares of Braze in a research report on Tuesday, September 24th. TD Cowen reduced their price target on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective (down previously from $70.00) on shares of Braze in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Hedge Funds Weigh In On Braze

Several institutional investors and hedge funds have recently made changes to their positions in BRZE. Quarry LP purchased a new stake in Braze during the second quarter valued at about $50,000. KBC Group NV boosted its holdings in Braze by 41.5% during the 3rd 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 boosted 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 during the period. Evoke Wealth LLC purchased a new position in Braze in the 2nd quarter worth approximately $215,000. Finally, Canada Pension Plan Investment Board bought a new stake in Braze in the second quarter valued at approximately $229,000. Institutional investors own 90.47% of the company’s stock.

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.