Insider Selling: Braze, Inc. (NASDAQ:BRZE) Insider Sells 10,000 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 10,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.43, for a total value of $454,300.00. Following the sale, the insider now directly owns 184,396 shares of the company’s stock, valued at approximately $8,377,110.28. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, December 18th, Myles Kleeger sold 37,900 shares of Braze stock. The stock was sold at an average price of $45.11, for a total value of $1,709,669.00.
• On Monday, December 16th, Myles Kleeger sold 2,100 shares of Braze stock. The stock was 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 shares were 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 value of $317,801.25.

Braze Stock Performance

Braze stock opened at $44.15 on Thursday. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -38.73 and a beta of 1.11. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53. The firm has a 50 day moving average price of $39.78 and a 200 day moving average price of $38.21.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group reduced their price target on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Stifel Nicolaus increased their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler increased their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target (down from $70.00) on shares of Braze in a research report on Tuesday, December 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.74.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently made changes to their positions in BRZE. JPMorgan Chase & Co. grew its position in Braze by 146.9% during the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after acquiring an additional 1,075,998 shares during the period. State Street Corp increased its position 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 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 acquiring an additional 612,400 shares during the period. Finally, Stephens Investment Management Group LLC purchased a new position in Braze in the third quarter valued at about $20,794,000. 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.