Myles Kleeger Sells 2,100 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 2,100 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.00, for a total value of $94,500.00. Following the transaction, the insider now directly owns 184,396 shares in the company, valued at $8,297,820. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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 value 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 Stock Performance

NASDAQ BRZE opened at $44.00 on Friday. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -38.60 and a beta of 1.15. The firm has a 50 day simple moving average of $36.25 and a 200-day simple moving average of $37.46. Braze, Inc. has a one year low of $29.18 and a one year high of $61.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BRZE shares. Stifel Nicolaus lifted their target price on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler lifted their price target on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lowered their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. cut their target price on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Citigroup upped their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently added to or reduced their stakes in BRZE. Charles Schwab Investment Management Inc. grew its stake in shares of Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after acquiring an additional 57,713 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Braze in the second quarter valued at $10,166,000. Victory Capital Management Inc. boosted its holdings in Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after purchasing an additional 19,567 shares during the period. Mackenzie Financial Corp acquired a new position in Braze during the 2nd quarter worth $971,000. Finally, Dynamic Technology Lab Private Ltd increased its holdings in Braze by 195.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after purchasing an additional 51,411 shares during the period. 90.47% of the stock is currently 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.