Braze (NASDAQ:BRZE) Shares Down 7.2% – Here’s What Happened

Shares of Braze, Inc. (NASDAQ:BRZE) were down 7.2% during trading on Monday . The company traded as low as $42.28 and last traded at $42.68. Approximately 365,846 shares changed hands during trading, a decline of 64% from the average daily volume of 1,005,745 shares. The stock had previously closed at $45.98.

Wall Street Analyst Weigh In

BRZE has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Stifel Nicolaus boosted their price target on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Citigroup boosted their price objective on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, DA Davidson reduced their target price on Braze from $55.00 to $50.00 and set a “buy” rating for the company 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 stock. Based on data from MarketBeat, Braze has an average rating of “Moderate Buy” and an average price target of $53.74.

Braze Stock Performance

The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -36.84 and a beta of 1.13. The company has a fifty day moving average of $43.08 and a two-hundred day moving average of $38.92.

Insider Activity

In related news, General Counsel Susan Wiseman sold 41,210 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.09, for a total transaction of $1,858,158.90. Following the completion of the transaction, the general counsel now directly owns 199,520 shares in the company, valued at $8,996,356.80. This represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Magnuson sold 17,933 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $617,791.85. Following the completion of the transaction, the chief executive officer now directly owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. The trade was a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,583 shares of company stock worth $7,797,668. Corporate insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BRZE. KBC Group NV increased its holdings in 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 purchasing an additional 615 shares in the last quarter. Amalgamated Bank increased its stake in shares of Braze by 18.9% in 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. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Braze in the fourth quarter valued at approximately $165,000. Moody National Bank Trust Division bought a new position in Braze in the 4th quarter valued at approximately $233,000. Finally, Principal Financial Group Inc. acquired a new stake in Braze during the 4th quarter worth approximately $236,000. 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.