Short Interest in Braze, Inc. (NASDAQ:BRZE) Rises By 16.0%

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

Wall Street Analysts Forecast Growth

BRZE has been the topic of several research reports. Piper Sandler raised their price target on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Oppenheimer reiterated an “outperform” rating and issued a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Braze in a research note on Monday, February 3rd. Finally, DA Davidson dropped their target price on Braze from $55.00 to $50.00 and set a “buy” rating on the stock 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.74.

Braze Stock Performance

Shares of Braze stock traded down $0.27 on Monday, reaching $41.51. 791,930 shares of the company were exchanged, compared to its average volume of 1,032,896. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -36.41 and a beta of 1.13. Braze has a 1-year low of $29.18 and a 1-year high of $59.98. The company’s 50-day moving average is $43.51 and its two-hundred day moving average is $38.98.

Insider Activity at Braze

In related news, 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 value of $228,502.26. Following the transaction, the insider now owns 184,396 shares in the company, valued at approximately $6,643,787.88. This trade represents a 3.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 10,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.22, for a total value of $472,200.00. Following the sale, the general counsel now directly owns 189,520 shares of the company’s stock, valued at approximately $8,949,134.40. This trade represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,210 shares of company stock worth $6,372,368. 24.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Hedge funds and other institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its stake in Braze by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock valued at $559,000 after purchasing an additional 316 shares during the period. Harbor Capital Advisors Inc. raised its stake in Braze by 3.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after acquiring an additional 346 shares in the last quarter. Amalgamated Bank raised its stake 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 405 shares during the period. Finally, KBC Group NV grew its stake in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares in the last quarter. Institutional investors and hedge funds 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.