Insider Selling: Braze, Inc. (NASDAQ:BRZE) Insider Sells $1,709,669.00 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 37,900 shares of Braze stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the sale, the insider now owns 184,396 shares of the company’s stock, valued at approximately $8,318,103.56. The trade was a 17.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 value 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 value of $228,502.26.
• On Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The stock was sold at an average price of $34.45, for a total value of $317,801.25.

Braze Trading Up 0.7 %

Shares of Braze stock opened at $44.31 on Monday. The business’s fifty day moving average price is $36.52 and its 200 day moving average price is $37.53. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The stock has a market capitalization of $4.59 billion, a P/E ratio of -38.87 and a beta of 1.15.

Hedge Funds Weigh In On Braze

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in Braze in the third quarter valued at approximately $253,000. 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. Vestcor Inc purchased a new position in shares of Braze in the 3rd quarter valued at $1,617,000. Bullseye Asset Management LLC lifted its holdings in shares of Braze by 14.3% during the 3rd quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock valued at $801,000 after acquiring an additional 3,100 shares in the last quarter. Finally, Barclays PLC boosted its position in Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after purchasing an additional 64,093 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on BRZE. Wells Fargo & Company dropped their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Oppenheimer reiterated an “outperform” rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. TD Cowen cut their price target on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective (down previously from $70.00) on shares of Braze in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

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.