Braze, Inc. (NASDAQ:BRZE) Short Interest Update

Braze, Inc. (NASDAQ:BRZE - Get Free Report) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 4,810,000 shares, an increase of 11.9% from the December 31st total of 4,300,000 shares. Approximately 6.9% of the company's shares are short sold. Based on an average daily trading volume, of 1,360,000 shares, the days-to-cover ratio is presently 3.5 days.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 9,225 shares of the company's 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 transaction, the insider now owns 190,738 shares in the company, valued at approximately $6,570,924.10. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Susan Wiseman sold 3,853 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $132,735.85. Following the transaction, the general counsel now directly owns 203,077 shares in the company, valued at $6,996,002.65. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,583 shares of company stock valued at $7,797,668. 24.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Braze

Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Braze during the 4th quarter valued at $47,000. Quarry LP purchased a new stake in Braze during the second quarter valued at about $50,000. KBC Group NV boosted its position in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company's stock worth $68,000 after purchasing an additional 615 shares during the period. Amalgamated Bank increased its stake in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after purchasing an additional 358 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Braze in the fourth quarter valued at approximately $115,000. 90.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on BRZE. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Braze in a report on Monday. The Goldman Sachs Group lowered their price objective on shares of Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Oppenheimer reiterated an "outperform" rating and set a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their target price on shares of Braze from $55.00 to $47.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Finally, William Blair reiterated an "outperform" rating on shares of Braze in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $53.74.

Braze Price Performance

Shares of Braze stock traded down $1.30 on Friday, reaching $41.22. 1,030,343 shares of the company traded hands, compared to its average volume of 1,146,934. The company has a 50 day moving average of $43.37 and a 200 day moving average of $39.00. Braze has a 52 week low of $29.18 and a 52 week high of $61.53. The firm has a market capitalization of $4.27 billion, a PE ratio of -36.16 and a beta of 1.13.

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.