Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 37,900 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 37,900 shares of Braze stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the sale, the insider now owns 184,396 shares in the company, valued at $8,318,103.56. This represents a 17.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 16th, Myles Kleeger sold 2,100 shares of Braze stock. The stock was sold at an average price of $45.00, for a total transaction of $94,500.00.
• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The shares were sold at an average price of $36.03, for a total transaction of $228,502.26.
• On Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The stock was sold at an average price of $34.45, for a total value of $317,801.25.

Braze Stock Up 0.7 %

Braze stock opened at $44.31 on Monday. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of -38.87 and a beta of 1.15. The firm has a 50-day moving average price of $36.52 and a two-hundred day moving average price of $37.53.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BRZE. Wells Fargo & Company lowered 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. JMP Securities restated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th. JPMorgan Chase & Co. cut their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective (down from $70.00) on shares of Braze in a report on Tuesday, December 10th. Finally, Stifel Nicolaus upped their target price on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Braze has an average rating of “Moderate Buy” and an average target price of $53.74.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently made changes to their positions in the business. Stephens Investment Management Group LLC acquired a new stake in Braze in the 3rd quarter valued at approximately $20,794,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Braze by 69.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after purchasing an additional 612,400 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of Braze during the second quarter valued at $12,925,000. State Street Corp raised its stake in shares of Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after purchasing an additional 279,050 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Braze in the second quarter worth about $10,166,000. Institutional investors own 90.47% of the company’s stock.

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.