Braze (NASDAQ:BRZE) Shares Down 7.2% - Should You Sell?

Braze, Inc. (NASDAQ:BRZE - Get Free Report)'s stock price fell 7.2% during mid-day trading on Monday . The company traded as low as $42.28 and last traded at $42.68. 365,846 shares traded hands during trading, a decline of 64% from the average session volume of 1,005,745 shares. The stock had previously closed at $45.98.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. Stifel Nicolaus increased their price objective on shares of Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. William Blair reissued an "outperform" rating on shares of Braze in a research note on Thursday, December 19th. Citigroup upped their target price on shares of Braze from $47.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Finally, DA Davidson cut their price target on Braze from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.74.

Braze Stock Down 2.4 %

The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -37.30 and a beta of 1.13. The firm's 50 day moving average is $43.37 and its 200 day moving average is $39.00.

Insider Activity

In related news, General Counsel Susan Wiseman sold 10,000 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.22, for a total value of $472,200.00. Following the completion of the sale, the general counsel now owns 189,520 shares in the company, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $42.02, for a total transaction of $63,030.00. Following the transaction, the director now owns 15,269 shares in the company, valued at approximately $641,603.38. The trade was a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,583 shares of company stock worth $7,797,668. Insiders own 24.03% of the company's stock.

Institutional Trading of Braze

Hedge funds have recently modified their holdings of the business. 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 buying an additional 1,075,998 shares during the period. State Street Corp grew its stake in Braze by 21.5% during the 3rd 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. Geode Capital Management LLC increased 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 valued at $48,428,000 after purchasing an additional 229,660 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Braze by 69.5% in the third 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 in the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Braze by 20.1% during 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 period. Hedge funds and other institutional investors own 90.47% of the company's stock.

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.