Pankaj Malik Sells 3,700 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,700 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the sale, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at $2,507,463.68. This represents a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value of $203,234.40.
• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The shares were sold at an average price of $41.41, for a total value of $163,776.55.
• On Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The stock was sold at an average price of $34.45, for a total value of $118,232.40.

Braze Stock Down 1.0 %

NASDAQ:BRZE traded down $0.45 during trading hours on Wednesday, reaching $44.15. 910,053 shares of the company’s stock were exchanged, compared to its average volume of 1,424,351. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of -38.73 and a beta of 1.11. The company has a 50-day moving average of $39.78 and a 200 day moving average of $38.21.

Analyst Ratings Changes

BRZE has been the topic of a number of research analyst reports. Macquarie boosted their price target on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price (down from $70.00) on shares of Braze in a report on Tuesday, December 10th. TD Cowen cut their price objective on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, UBS Group cut their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.74.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. JPMorgan Chase & Co. raised its stake in shares of Braze by 146.9% during the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock worth $58,489,000 after purchasing an additional 1,075,998 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in Braze during the 3rd quarter worth $20,794,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Braze by 69.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after acquiring an additional 612,400 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Braze in the second quarter valued at about $12,925,000. Finally, State Street Corp boosted its holdings in shares of Braze by 21.5% in the third 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. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Company Profile

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.