William Magnuson Sells 18,050 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 18,050 shares of Braze stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the transaction, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Braze Trading Down 2.7 %

Shares of Braze stock 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 firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -34.69 and a beta of 1.13. The firm’s 50 day simple moving average is $43.42 and its two-hundred day simple moving average is $39.03.

Analysts Set New Price Targets

BRZE has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Citigroup boosted their price objective on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their price objective 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. DA Davidson lowered their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Finally, Oppenheimer reissued an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Institutional Trading of Braze

Several large investors have recently made changes to their positions in BRZE. Creative Planning boosted its holdings in shares of Braze by 12.8% in the 3rd quarter. Creative Planning now owns 26,089 shares of the company’s stock valued at $844,000 after acquiring an additional 2,968 shares during the last quarter. AMI Asset Management Corp boosted its holdings in Braze by 25.8% during the third quarter. AMI Asset Management Corp now owns 33,438 shares of the company’s stock worth $1,081,000 after buying an additional 6,852 shares in the last quarter. US Bancorp DE boosted its holdings in Braze by 38.1% during the third quarter. US Bancorp DE now owns 25,737 shares of the company’s stock worth $832,000 after buying an additional 7,103 shares in the last quarter. Stephens Investment Management Group LLC purchased a new stake in Braze during the third quarter worth $20,794,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Braze by 9.0% during the third quarter. Harbor Capital Advisors Inc. now owns 10,482 shares of the company’s stock worth $339,000 after buying an additional 866 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.