Braze, Inc. (NASDAQ:BRZE) CAO Sells $163,776.55 in Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,955 shares of Braze stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $41.41, for a total transaction of $163,776.55. Following the sale, the chief accounting officer now owns 63,140 shares in the company, valued at approximately $2,614,627.40. This trade represents a 5.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The stock was sold at an average price of $34.45, for a total value of $118,232.40.

Braze Price Performance

BRZE stock traded down $0.03 during trading hours on Tuesday, reaching $44.75. The stock had a trading volume of 1,472,968 shares, compared to its average volume of 1,086,632. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The stock has a market capitalization of $4.60 billion, a PE ratio of -39.25 and a beta of 1.15. The stock has a 50-day simple moving average of $35.40 and a 200 day simple moving average of $37.32.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays reduced their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. 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. Loop Capital reiterated a “buy” rating and issued a $75.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Braze presently has a consensus 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 modified their holdings of BRZE. Quarry LP bought a new position in shares of Braze during the second quarter worth approximately $50,000. Comerica Bank increased its position in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the period. KBC Group NV lifted its holdings in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares in the last quarter. Amalgamated Bank increased its position in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares during the period. Finally, Evoke Wealth LLC bought a new stake in Braze in the 2nd quarter valued at about $215,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.