Insider Selling: Braze, Inc. (NASDAQ:BRZE) CTO Sells 5,210 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 5,210 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the sale, the chief technology officer now owns 157,810 shares of the company’s stock, valued at approximately $6,441,804.20. The trade was a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Braze Trading Down 2.7 %

NASDAQ:BRZE opened at $39.55 on Friday. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of -34.69 and a beta of 1.13. The stock has a 50-day moving average price of $43.42 and a two-hundred day moving average price of $39.05. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $59.12.

Wall Street Analyst Weigh In

BRZE has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. DA Davidson decreased their price objective on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, December 10th. The Goldman Sachs Group decreased their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Citigroup lifted 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. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and a consensus target price of $53.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BRZE. ShawSpring Partners LLC acquired a new position in shares of Braze during the fourth quarter worth about $62,837,000. Norges Bank acquired a new position in shares of Braze during the fourth quarter worth about $62,639,000. Vanguard Group Inc. boosted its position in shares of Braze by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock worth $354,479,000 after buying an additional 1,476,423 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Braze by 121.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock worth $92,028,000 after buying an additional 1,203,149 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of Braze during the fourth quarter worth about $50,000,000. 90.47% of the stock is owned by institutional investors and hedge funds.

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.