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 business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.43, for a total transaction of $454,300.00. Following the transaction, the insider now owns 184,396 shares in the company, valued at $8,377,110.28. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 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 shares were sold at an average price of $34.45, for a total transaction of $317,801.25.

Braze Stock Performance

Shares of Braze stock traded down $0.45 during midday trading on Wednesday, hitting $44.15. 910,053 shares of the company traded hands, compared to its average volume of 1,424,351. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of -38.73 and a beta of 1.11. The firm’s fifty day moving average price is $39.78 and its 200-day moving average price is $38.21. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of Braze by 146.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after buying an additional 1,075,998 shares during the last quarter. State Street Corp lifted its position in Braze by 21.5% in the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after acquiring an additional 279,050 shares in the last quarter. Geode Capital Management LLC boosted its stake in Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after purchasing an additional 229,660 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Braze by 69.5% during 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 in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in Braze during the 3rd quarter worth $20,794,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on BRZE. The Goldman Sachs Group cut their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their price target on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. Citigroup increased their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. DA Davidson reduced their target price 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, JPMorgan Chase & Co. lowered their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Braze has an average rating of “Moderate Buy” and a consensus price target of $53.74.

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.