Braze, Inc. (NASDAQ:BRZE) Short Interest Up 16.0% in January

Braze, Inc. (NASDAQ:BRZE - Get Free Report) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 4,570,000 shares, a growth of 16.0% from the January 15th total of 3,940,000 shares. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 6.5% of the company's stock are sold short.

Insider Activity

In other news, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the sale, the general counsel now directly owns 182,109 shares in the company, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Myles Kleeger sold 37,900 shares of Braze stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the transaction, the insider now directly owns 184,396 shares of the company's stock, valued at $8,318,103.56. This represents a 17.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,581 shares of company stock worth $8,059,840. 24.03% of the stock is owned by corporate insiders.

Institutional Trading of Braze

A number of large investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV grew its stake in Braze by 2.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock worth $559,000 after acquiring an additional 316 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Braze by 3.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company's stock valued at $453,000 after acquiring an additional 346 shares during the last quarter. Amalgamated Bank lifted its position in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock valued at $73,000 after acquiring an additional 358 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after buying an additional 405 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company's stock worth $68,000 after buying an additional 615 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BRZE has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Braze from $37.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. Oppenheimer reissued an "outperform" rating and issued a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. Citigroup upped their price target on shares of Braze from $47.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Finally, William Blair restated an "outperform" rating on shares of Braze in a research note on Thursday, December 19th. One research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $53.74.

Braze Trading Down 0.4 %

NASDAQ:BRZE traded down $0.18 during trading hours on Thursday, reaching $40.66. The company had a trading volume of 1,315,267 shares, compared to its average volume of 1,127,326. Braze has a 52 week low of $29.18 and a 52 week high of $59.12. The firm's 50 day moving average price is $43.46 and its 200-day moving average price is $39.02. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of -35.67 and a beta of 1.13.

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.