Braze, Inc. (NASDAQ:BRZE) CAO Sells $105,519.70 in Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 2,585 shares of Braze stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $105,519.70. Following the completion of the transaction, the chief accounting officer now owns 52,199 shares in the company, valued at $2,130,763.18. The trade was a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Pankaj Malik also recently made the following trade(s):

• On Monday, January 6th, Pankaj Malik sold 3,700 shares of Braze stock. The shares were sold at an average price of $45.77, for a total value of $169,349.00.
• On Monday, December 16th, Pankaj Malik sold 4,656 shares of Braze stock. The stock was sold at an average price of $43.65, for a total value of $203,234.40.
• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The stock was sold at an average price of $41.41, for a total transaction of $163,776.55.

Braze Stock Down 2.7 %

NASDAQ:BRZE opened at $39.55 on Friday. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $59.12. The company’s 50 day moving average is $43.42 and its 200-day moving average is $39.03. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -34.69 and a beta of 1.13.

Analysts Set New Price Targets

BRZE has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Stifel Nicolaus boosted 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. JPMorgan Chase & Co. decreased 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. Oppenheimer reissued an “outperform” rating and set a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. Finally, Macquarie raised their price objective on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Institutional Trading of Braze

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ShawSpring Partners LLC bought a new position in Braze during the fourth quarter worth about $62,837,000. Norges Bank bought a new stake in Braze during the 4th quarter worth about $62,639,000. Vanguard Group Inc. increased its holdings in shares of Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after purchasing an additional 1,476,423 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 acquiring an additional 1,203,149 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Braze during the 4th quarter valued at about $50,000,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Company Profile

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.