Braze, Inc. (NASDAQ:BRZE) Insider Sells $335,603.80 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 8,365 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the sale, the insider now owns 168,882 shares in the company, valued at $6,775,545.84. The trade was a 4.72 % 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 this hyperlink.

Myles Kleeger also recently made the following trade(s):

• On Tuesday, February 18th, Myles Kleeger sold 7,149 shares of Braze stock. The stock was sold at an average price of $40.82, for a total value of $291,822.18.
• On Monday, January 6th, Myles Kleeger sold 10,000 shares of Braze stock. The shares were sold at an average price of $45.43, for a total transaction of $454,300.00.
• On Wednesday, December 18th, Myles Kleeger sold 37,900 shares of Braze stock. The shares were sold at an average price of $45.11, for a total value of $1,709,669.00.
• On Monday, December 16th, Myles Kleeger sold 2,100 shares of Braze stock. The shares were sold at an average price of $45.00, for a total value of $94,500.00.

Braze Stock Down 0.4 %

Shares of BRZE stock traded down $0.18 during trading hours on Thursday, hitting $40.66. 1,315,267 shares of the company’s stock traded hands, compared to its average volume of 1,127,326. The stock’s fifty day simple moving average is $43.49 and its two-hundred day simple moving average is $39.00. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $59.12. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -35.67 and a beta of 1.13.

Hedge Funds Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after purchasing an additional 57,713 shares during the period. Dynamic Technology Lab Private Ltd grew its position in Braze by 195.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after purchasing an additional 51,411 shares during the period. Victory Capital Management Inc. grew its position in Braze by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after purchasing an additional 19,567 shares during the period. Intech Investment Management LLC bought a new stake in Braze in the 3rd quarter worth approximately $673,000. Finally, Holocene Advisors LP grew its position in Braze by 52.7% in the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after purchasing an additional 29,123 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Braze in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. Citigroup boosted their target price on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler boosted their target price on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

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.