Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 2,100 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 2,100 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.00, for a total value of $94,500.00. Following the transaction, the insider now directly owns 184,396 shares of the company’s stock, valued at approximately $8,297,820. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Myles Kleeger also recently made the following trade(s):

• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The shares were sold at an average price of $36.03, for a total value of $228,502.26.
• On Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The stock was sold at an average price of $34.45, for a total transaction of $317,801.25.

Braze Stock Performance

Shares of BRZE traded down $1.38 during mid-day trading on Wednesday, hitting $43.37. 2,331,207 shares of the stock were exchanged, compared to its average volume of 1,092,428. The company has a market cap of $4.46 billion, a PE ratio of -38.04 and a beta of 1.15. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The firm has a 50-day moving average of $35.97 and a two-hundred day moving average of $37.41.

Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Braze in the 3rd quarter valued at about $253,000. Geode Capital Management LLC raised its position in Braze by 18.1% during the third 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. Vestcor Inc bought a new stake in shares of Braze in the 3rd quarter valued at approximately $1,617,000. Bullseye Asset Management LLC boosted its holdings in shares of Braze by 14.3% in the 3rd quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after purchasing an additional 3,100 shares during the period. Finally, Barclays PLC increased its position in shares of Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after purchasing an additional 64,093 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BRZE. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price (down previously from $70.00) on shares of Braze in a report on Tuesday, December 10th. DA Davidson decreased their target price on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. Barclays decreased their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

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.