Insider Selling: Braze, Inc. (NASDAQ:BRZE) CTO Sells 5,210 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 5,210 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the sale, the chief technology officer now directly owns 157,810 shares of the company’s stock, valued at approximately $6,441,804.20. The trade was a 3.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Braze Stock Performance

Shares of BRZE stock opened at $40.66 on Friday. The firm’s 50 day moving average price is $43.46 and its 200-day moving average price is $39.02. Braze, Inc. has a one year low of $29.18 and a one year high of $59.12. The firm has a market cap of $4.21 billion, a P/E ratio of -35.67 and a beta of 1.13.

Institutional Investors Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in Braze by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after buying an additional 57,713 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Braze by 195.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after purchasing an additional 51,411 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Braze by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after purchasing an additional 19,567 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Braze in the 3rd quarter valued at $673,000. Finally, Holocene Advisors LP raised its holdings in shares of Braze by 52.7% in the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after purchasing an additional 29,123 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut 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 target on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. The Goldman Sachs Group cut their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Macquarie raised their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.