Braze (NASDAQ:BRZE) Stock Price Down 5.9% – Should You Sell?

Braze, Inc. (NASDAQ:BRZE)’s stock price fell 5.9% during mid-day trading on Tuesday . The company traded as low as $30.24 and last traded at $30.0750. 283,013 shares traded hands during trading, a decline of 90% from the average daily volume of 2,906,865 shares. The stock had previously closed at $31.96.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup lowered their price objective on Braze from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, May 29th. TD Cowen boosted their price target on shares of Braze from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Citizens Jmp restated a “market outperform” rating and set a $35.00 price target on shares of Braze in a research report on Thursday, May 28th. UBS Group reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, May 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 price objective on shares of Braze in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.59.

Braze Stock Performance

The firm has a 50 day simple moving average of $27.40 and a two-hundred day simple moving average of $23.45. The stock has a market cap of $3.41 billion, a P/E ratio of -26.99 and a beta of 0.88.

Insider Activity at Braze

In related news, CTO Jonathan Hyman sold 42,000 shares of Braze stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $32.47, for a total transaction of $1,363,740.00. Following the sale, the chief technology officer directly owned 1,143,219 shares in the company, valued at $37,120,320.93. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Astha Malik sold 15,724 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.57, for a total transaction of $464,958.68. Following the completion of the sale, the insider directly owned 326,233 shares of the company’s stock, valued at $9,646,709.81. The trade was a 4.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 203,568 shares of company stock worth $6,096,461 over the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its holdings in Braze by 1,832.1% during the second quarter. California State Teachers Retirement System now owns 2,019,361 shares of the company’s stock worth $43,800,000 after acquiring an additional 1,914,845 shares during the period. Alyeska Investment Group L.P. lifted its holdings in Braze by 592.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,105,024 shares of the company’s stock valued at $72,181,000 after acquiring an additional 1,801,019 shares during the last quarter. UBS Group AG boosted its position in shares of Braze by 421.1% during the 3rd quarter. UBS Group AG now owns 1,279,678 shares of the company’s stock valued at $36,394,000 after purchasing an additional 1,034,087 shares in the last quarter. Battery Management CORP. boosted its position in shares of Braze by 70.2% during the 3rd quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock valued at $68,967,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Braze by 238.2% in the 3rd quarter. Bank of America Corp DE now owns 1,351,227 shares of the company’s stock worth $38,429,000 after purchasing an additional 951,674 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.