Braze, Inc. (NASDAQ:BRZE) Insider Sells $1,709,669.00 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 37,900 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $45.11, for a total value of $1,709,669.00. Following the completion of the transaction, the insider now owns 184,396 shares of the company’s stock, valued at $8,318,103.56. The trade was a 17.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, December 16th, Myles Kleeger sold 2,100 shares of Braze stock. The shares were 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 stock was 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 shares were sold at an average price of $34.45, for a total transaction of $317,801.25.

Braze Trading Up 0.7 %

Shares of NASDAQ BRZE traded up $0.31 during midday trading on Friday, hitting $44.31. The company’s stock had a trading volume of 2,463,202 shares, compared to its average volume of 1,100,494. The business’s 50 day moving average is $36.25 and its two-hundred day moving average is $37.46. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The firm has a market cap of $4.55 billion, a P/E ratio of -38.87 and a beta of 1.15.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. DA Davidson cut their price objective on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Citigroup raised their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered their target price on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Barclays reduced their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. 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.com, Braze has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stephens Investment Management Group LLC purchased a new stake in shares of Braze during the third quarter valued at $20,794,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 during the period. Granite Investment Partners LLC bought a new position in Braze in the 2nd quarter worth about $12,925,000. State Street Corp increased its holdings 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 purchasing an additional 279,050 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Braze during the second quarter valued at $10,166,000. Hedge funds and other 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.