Braze (NASDAQ:BRZE) Trading Down 2.2%

Braze, Inc. (NASDAQ:BRZE) shares dropped 2.2% during mid-day trading on Tuesday . The company traded as low as $49.54 and last traded at $49.85. Approximately 121,230 shares were traded during trading, a decline of 82% from the average daily volume of 688,291 shares. The stock had previously closed at $50.97.

Analyst Ratings Changes

A number of research firms have recently commented on BRZE. Piper Sandler upped their price target on shares of Braze from $57.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, December 7th. Raymond James lifted their price target on shares of Braze from $52.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, December 7th. Needham & Company LLC raised their price objective on Braze from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Canaccord Genuity Group upped their target price on Braze from $55.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Finally, Scotiabank raised their price target on Braze from $54.00 to $65.00 and gave the company a “sector perform” rating in a research note on Thursday, December 7th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Braze has an average rating of “Moderate Buy” and a consensus price target of $63.76.

Braze Stock Up 2.3 %

The firm has a fifty day simple moving average of $55.05 and a two-hundred day simple moving average of $51.24.

Insider Buying and Selling

In other news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.32, for a total transaction of $76,980.00. Following the sale, the director now directly owns 11,056 shares of the company’s stock, valued at $567,393.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $51.32, for a total value of $76,980.00. Following the transaction, the director now owns 11,056 shares in the company, valued at approximately $567,393.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 2,832 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $57.52, for a total transaction of $162,896.64. Following the transaction, the chief accounting officer now directly owns 75,021 shares of the company’s stock, valued at $4,315,207.92. The disclosure for this sale can be found here. Insiders sold 75,471 shares of company stock worth $4,196,153 in the last three months. Corporate insiders own 26.48% of the company’s stock.

Institutional Investors Weigh In On Braze

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after purchasing an additional 480,179 shares in the last quarter. Morgan Stanley raised its position in shares of Braze by 20.1% in the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after acquiring an additional 899,894 shares during the period. BlackRock Inc. boosted its stake in shares of Braze by 296.6% during the 2nd quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock worth $114,050,000 after acquiring an additional 1,947,831 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Braze by 12.5% during the 2nd quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock valued at $104,054,000 after acquiring an additional 263,250 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Braze by 62.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,090,100 shares of the company’s stock valued at $111,047,000 after purchasing an additional 805,000 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.