Insider Selling: Braze, Inc. (NASDAQ:BRZE) Insider Sells 7,149 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 7,149 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $291,822.18. Following the completion of the sale, the insider now owns 177,247 shares of the company’s stock, valued at approximately $7,235,222.54. The trade was a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Thursday, February 20th, Myles Kleeger sold 8,365 shares of Braze stock. The shares were sold at an average price of $40.12, for a total transaction of $335,603.80.
• On Monday, January 6th, Myles Kleeger sold 10,000 shares of Braze stock. The shares were sold at an average price of $45.43, for a total transaction of $454,300.00.
• On Wednesday, December 18th, Myles Kleeger sold 37,900 shares of Braze stock. The shares were sold at an average price of $45.11, for a total transaction of $1,709,669.00.
• On Monday, December 16th, Myles Kleeger sold 2,100 shares of Braze stock. The shares were sold at an average price of $45.00, for a total transaction of $94,500.00.

Braze Stock Down 2.7 %

Braze stock opened at $39.55 on Friday. The firm has a market cap of $4.09 billion, a PE 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. The company’s 50 day moving average is $43.42 and its two-hundred day moving average is $39.03.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Oppenheimer reissued an “outperform” rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. Wells Fargo & Company dropped their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.74.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently added to or reduced their stakes in BRZE. ShawSpring Partners LLC acquired a new stake in Braze during the 4th quarter worth approximately $62,837,000. Norges Bank acquired a new stake in Braze during the 4th quarter worth approximately $62,639,000. Vanguard Group Inc. lifted its holdings in Braze by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock worth $354,479,000 after buying an additional 1,476,423 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $92,028,000 after buying an additional 1,203,149 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Braze during the 4th quarter worth approximately $50,000,000. 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.