Braze, Inc. (NASDAQ:BRZE) Major Shareholder Morad Elhafed Sells 10,000 Shares

Braze, Inc. (NASDAQ:BRZE) major shareholder Morad Elhafed sold 10,000 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $53.49, for a total transaction of $534,900.00. Following the transaction, the insider now directly owns 62,702 shares in the company, valued at $3,353,929.98. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Braze Stock Performance

NASDAQ:BRZE traded up $0.12 during trading hours on Friday, reaching $45.69. The stock had a trading volume of 767,602 shares, compared to its average volume of 1,096,393. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The stock has a 50 day simple moving average of $41.91 and a 200 day simple moving average of $38.65. The stock has a market cap of $4.73 billion, a P/E ratio of -40.08 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BRZE. Stifel Nicolaus increased their price target on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. DA Davidson cut their target price on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Macquarie raised their price objective on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $51.00 target price on shares of Braze in a research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in Braze during the second quarter valued at $50,000. KBC Group NV lifted its holdings in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares during the last quarter. Amalgamated Bank boosted its position in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares during the period. Moody National Bank Trust Division bought a new position in Braze during the 4th quarter worth approximately $233,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Braze in the second quarter worth approximately $229,000. Institutional investors own 90.47% of the company’s stock.

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.