William Magnuson Sells 18,050 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares of the company’s stock, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Braze Price Performance

Shares of Braze stock traded down $0.18 during trading on Thursday, hitting $40.66. The stock had a trading volume of 1,315,267 shares, compared to its average volume of 1,127,326. The firm has a market cap of $4.21 billion, a P/E ratio of -35.67 and a beta of 1.13. The business has a fifty day moving average of $43.49 and a two-hundred day moving average of $39.00. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $59.12.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Braze by 12.8% during the third 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 holdings in shares of Braze by 195.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after acquiring an additional 51,411 shares in the last quarter. Victory Capital Management Inc. grew its stake in Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after purchasing an additional 19,567 shares in the last quarter. Intech Investment Management LLC bought a new position in Braze during the third quarter valued at approximately $673,000. Finally, Holocene Advisors LP boosted its holdings in Braze by 52.7% in the third 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 in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BRZE has been the subject of a number of research analyst reports. 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. Piper Sandler boosted their price target on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Citigroup upped their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Oppenheimer restated an “outperform” rating and set a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. Finally, William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.74.

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.