Short Interest in Braze, Inc. (NASDAQ:BRZE) Grows By 11.9%

Braze, Inc. (NASDAQ:BRZE) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,810,000 shares, an increase of 11.9% from the December 15th total of 4,300,000 shares. Currently, 6.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,360,000 shares, the short-interest ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

BRZE has been the subject of a number of research reports. The Goldman Sachs Group reduced 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. Oppenheimer reissued an “outperform” rating and set a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and set a $68.00 target price on shares of Braze in a research report on Tuesday, September 24th. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Braze in a research report on Wednesday, January 15th. Finally, DA Davidson cut their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $44.11 on Monday. The firm has a fifty day moving average price of $41.22 and a two-hundred day moving average price of $38.48. Braze has a one year low of $29.18 and a one year high of $61.53. The company has a market cap of $4.56 billion, a price-to-earnings ratio of -38.69 and a beta of 1.11.

Insider Buying and Selling at Braze

In other Braze news, General Counsel Susan Wiseman sold 41,210 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $45.09, for a total value of $1,858,158.90. Following the completion of the sale, the general counsel now owns 199,520 shares in the company, valued at approximately $8,996,356.80. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Myles Kleeger sold 9,225 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $317,801.25. Following the completion of the sale, the insider now owns 190,738 shares of the company’s stock, valued at approximately $6,570,924.10. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,583 shares of company stock worth $7,325,468. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Braze during the 2nd quarter worth $50,000. KBC Group NV lifted its holdings in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares during the last quarter. Evoke Wealth LLC bought a new stake in shares of Braze during the 2nd quarter worth $215,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Braze during the 2nd quarter worth $229,000. 90.47% of the stock is owned by 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.