Insider Selling: Braze, Inc. (NASDAQ:BRZE) CAO Sells 4,656 Shares of Stock

Braze, Inc. (NASDAQ:BRZE - Get Free Report) CAO Pankaj Malik sold 4,656 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $43.65, for a total transaction of $203,234.40. Following the completion of the transaction, the chief accounting officer now directly owns 58,484 shares of the company's stock, valued at $2,552,826.60. The trade was a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pankaj Malik also recently made the following trade(s):

• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The stock was sold at an average price of $41.41, for a total transaction of $163,776.55.
• On Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40.

Braze Trading Down 0.1 %

BRZE traded down $0.03 during midday trading on Tuesday, hitting $44.75. 1,472,968 shares of the company traded hands, compared to its average volume of 1,086,632. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of -39.25 and a beta of 1.15. The business has a 50 day simple moving average of $35.40 and a two-hundred day simple moving average of $37.32. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in Braze by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company's stock worth $16,486,000 after buying an additional 57,713 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Braze during the second quarter worth approximately $10,166,000. Victory Capital Management Inc. raised its stake in Braze by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company's stock valued at $13,309,000 after purchasing an additional 19,567 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Braze in the 2nd quarter valued at $971,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Braze by 195.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company's stock worth $2,512,000 after purchasing an additional 51,411 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on BRZE shares. Citigroup lifted their price target on Braze from $47.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. UBS Group decreased their target price on Braze from $56.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Macquarie increased their price target on shares of Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Stifel Nicolaus lifted their price objective on shares of Braze from $37.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective (down previously from $70.00) on shares of Braze in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.74.

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.

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