Short Interest in Braze, Inc. (NASDAQ:BRZE) Expands By 7.3%

Braze, Inc. (NASDAQ:BRZE) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 5,010,000 shares, an increase of 7.3% from the September 15th total of 4,670,000 shares. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is currently 4.3 days. Currently, 7.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

BRZE has been the topic of a number of recent research reports. Oppenheimer decreased their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. Barclays lowered their price target on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. TD Cowen dropped their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. UBS Group reduced their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, DA Davidson cut their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Eighteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $58.53.

Insider Buying and Selling

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Myles Kleeger sold 50,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the transaction, the insider now directly owns 199,963 shares of the company’s stock, valued at approximately $9,128,310.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,737 shares of company stock worth $9,301,358. 24.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Braze

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Braze by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Braze by 6.6% in the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock valued at $92,357,000 after acquiring an additional 128,645 shares during the period. Fiera Capital Corp raised its position in shares of Braze by 1.0% in the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after acquiring an additional 7,570 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Braze by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock worth $18,554,000 after purchasing an additional 73,764 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Braze by 10.9% during the second quarter. Victory Capital Management Inc. now owns 391,977 shares of the company’s stock valued at $15,224,000 after purchasing an additional 38,504 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

BRZE traded down $0.89 during trading on Thursday, hitting $29.80. 133,545 shares of the stock were exchanged, compared to its average volume of 1,026,277. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -23.98 and a beta of 1.03. The firm has a 50 day simple moving average of $37.29 and a 200 day simple moving average of $38.97.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the firm posted ($0.30) earnings per share. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, equities analysts anticipate that Braze will post -1.02 earnings per share for the current fiscal year.

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.