Insider Selling: Braze, Inc. (NASDAQ:BRZE) CEO Sells 18,050 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 18,050 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Braze Trading Down 2.7 %

NASDAQ BRZE opened at $39.55 on Friday. The business’s 50-day moving average price is $43.42 and its 200 day moving average price is $39.05. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $59.12. The company has a market capitalization of $4.09 billion, a PE ratio of -34.69 and a beta of 1.13.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BRZE shares. Oppenheimer restated an “outperform” rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. Piper Sandler lifted their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. DA Davidson reduced their price objective on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Finally, Stifel Nicolaus lifted their price objective on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Hedge Funds Weigh In On Braze

Several large investors have recently added to or reduced their stakes in the business. State of Wyoming purchased a new position in Braze during the fourth quarter worth about $197,000. ProShare Advisors LLC increased its stake in Braze by 33.8% during the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock worth $1,028,000 after acquiring an additional 6,200 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Braze during the fourth quarter worth about $1,686,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Braze by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,524 shares of the company’s stock worth $1,572,000 after acquiring an additional 1,427 shares during the last quarter. Finally, LMR Partners LLP acquired a new stake in Braze during the fourth quarter worth about $9,258,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.