Pankaj Malik Sells 2,585 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 2,585 shares of Braze stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $105,519.70. Following the transaction, the chief accounting officer now owns 52,199 shares in the company, valued at $2,130,763.18. The trade was a 4.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Pankaj Malik also recently made the following trade(s):

• On Monday, January 6th, Pankaj Malik sold 3,700 shares of Braze stock. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00.
• On Monday, December 16th, Pankaj Malik sold 4,656 shares of Braze stock. The stock was sold at an average price of $43.65, for a total transaction of $203,234.40.
• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The stock was sold at an average price of $41.41, for a total transaction of $163,776.55.

Braze Stock Down 2.7 %

Braze stock opened at $39.55 on Friday. The firm has a 50-day moving average price of $43.42 and a two-hundred day moving average price of $39.05. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -34.69 and a beta of 1.13. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $59.12.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. 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 research report on Tuesday, November 26th. Macquarie boosted their target price on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group dropped their target price 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Braze in a research report on Monday, February 3rd. One 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BRZE. ShawSpring Partners LLC acquired a new position in Braze during the 4th quarter valued at about $62,837,000. Norges Bank acquired a new position in Braze during the 4th quarter valued at about $62,639,000. Vanguard Group Inc. boosted its stake in Braze by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Braze by 121.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock valued at $92,028,000 after purchasing an additional 1,203,149 shares during the period. Finally, Wellington Management Group LLP acquired a new position in Braze during the 4th quarter valued at about $50,000,000. 90.47% of the stock is 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.