Insider Selling: Braze, Inc. (NASDAQ:BRZE) CAO Sells 3,955 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,955 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $41.41, for a total transaction of $163,776.55. Following the sale, the chief accounting officer now directly owns 63,140 shares in the company, valued at approximately $2,614,627.40. This represents a 5.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction of $203,234.40.
• On Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The shares were sold at an average price of $34.45, for a total transaction of $118,232.40.

Braze Price Performance

Braze stock opened at $43.37 on Thursday. The stock has a market capitalization of $4.46 billion, a PE ratio of -38.04 and a beta of 1.15. The business has a 50 day simple moving average of $35.97 and a 200-day simple moving average of $37.41. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Analysts Set New Price Targets

BRZE has been the subject of a number of research reports. TD Cowen lowered their price target on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. The Goldman Sachs Group decreased their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. dropped their target price on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Barclays reduced their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, DA Davidson dropped their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report 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, Braze presently has an average rating of “Moderate Buy” and an average price target of $53.74.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently added to or reduced their stakes in the stock. Stephens Investment Management Group LLC purchased a new position in Braze during the third quarter valued at $20,794,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in 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 buying an additional 612,400 shares in the last quarter. Granite Investment Partners LLC acquired a new stake in Braze in the 2nd quarter worth about $12,925,000. State Street Corp increased its stake in Braze by 21.5% during the 3rd 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 in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Braze during the second quarter valued at approximately $10,166,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.