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

Braze, Inc. (NASDAQ:BRZE) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 4,810,000 shares, a growth of 11.9% from the December 31st total of 4,300,000 shares. Based on an average daily volume of 1,360,000 shares, the short-interest ratio is presently 3.5 days. Currently, 6.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

BRZE has been the topic of several research reports. Macquarie raised their price target 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. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Monday. Oppenheimer restated an “outperform” rating and issued a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. Piper Sandler lifted their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Citigroup upped their target price on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.74.

Insiders Place Their Bets

In other Braze news, CTO Jonathan Hyman sold 6,930 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $238,738.50. Following the completion of the sale, the chief technology officer now directly owns 163,020 shares in the company, valued at approximately $5,616,039. The trade was a 4.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,432 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the completion of the transaction, the chief accounting officer now owns 67,095 shares in the company, valued at approximately $2,311,422.75. This trade represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,583 shares of company stock valued at $7,797,668. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock worth $58,489,000 after purchasing an additional 1,075,998 shares during the period. State Street Corp grew its stake in Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after buying an additional 279,050 shares during the period. Geode Capital Management LLC increased its position in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Braze by 69.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after acquiring an additional 612,400 shares during the period. Finally, Stephens Investment Management Group LLC boosted its position in Braze by 20.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock worth $32,343,000 after purchasing an additional 129,298 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Price Performance

Braze stock traded down $4.46 during trading hours on Monday, hitting $41.52. The stock had a trading volume of 2,167,898 shares, compared to its average volume of 1,097,038. Braze has a 1-year low of $29.18 and a 1-year high of $61.53. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -36.42 and a beta of 1.13. The stock’s fifty day moving average is $43.13 and its two-hundred day moving average is $38.93.

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.