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

Braze, Inc. (NASDAQ:BRZE - Get Free Report) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 3,940,000 shares, a decline of 18.1% from the December 31st total of 4,810,000 shares. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 5.6% of the company's shares are short sold.

Braze Stock Up 2.2 %

NASDAQ:BRZE traded up $0.95 during trading hours on Wednesday, hitting $43.55. 1,056,368 shares of the company's stock traded hands, compared to its average volume of 1,109,486. The firm has a market cap of $4.51 billion, a P/E ratio of -38.20 and a beta of 1.13. The business's fifty day simple moving average is $43.20 and its two-hundred day simple moving average is $38.95. Braze has a 52 week low of $29.18 and a 52 week high of $61.53.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Braze in a research note on Monday. Piper Sandler boosted their price target on shares of Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Macquarie boosted their target price on Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. Citigroup increased their price target on Braze from $47.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Finally, William Blair reissued an "outperform" rating on shares of Braze in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $53.74.

Insider Activity

In other Braze news, CAO Pankaj Malik sold 3,432 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $118,232.40. Following the completion of the sale, the chief accounting officer now owns 67,095 shares of the company's stock, valued at approximately $2,311,422.75. This trade represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Magnuson sold 17,933 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $617,791.85. Following the completion of the transaction, the chief executive officer now owns 582,816 shares in the company, valued at approximately $20,078,011.20. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,583 shares of company stock valued at $7,797,668 in the last ninety days. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Braze by 146.9% during the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock valued at $58,489,000 after purchasing an additional 1,075,998 shares in the last quarter. State Street Corp raised its stake in shares of Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company's stock worth $50,958,000 after acquiring an additional 279,050 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company's stock worth $48,428,000 after acquiring an additional 229,660 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in 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 purchasing an additional 612,400 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in Braze by 20.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company's stock worth $32,343,000 after purchasing an additional 129,298 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

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.