Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 37,900 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 37,900 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the transaction, the insider now directly owns 184,396 shares of the company’s stock, valued at approximately $8,318,103.56. This represents a 17.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, December 16th, Myles Kleeger sold 2,100 shares of Braze stock. The shares were sold at an average price of $45.00, for a total transaction of $94,500.00.
• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The stock was sold at an average price of $36.03, for a total transaction 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 value of $317,801.25.

Braze Price Performance

Shares of BRZE stock opened at $44.31 on Friday. The company’s fifty day moving average price is $36.25 and its 200-day moving average price is $37.46. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -38.87 and a beta of 1.15. Braze, Inc. has a one year low of $29.18 and a one year high of $61.53.

Institutional Trading of Braze

Several institutional investors have recently made changes to their positions in the business. AMI Asset Management Corp bought a new stake in Braze in the 2nd quarter valued at $1,033,000. Bank of New York Mellon Corp lifted its position in Braze by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock valued at $18,554,000 after purchasing an additional 73,764 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Braze by 12.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,549 shares of the company’s stock worth $487,000 after acquiring an additional 1,437 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in Braze during the second quarter worth $7,349,000. Finally, Versor Investments LP purchased a new stake in Braze in the 2nd quarter worth about $348,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BRZE shares. Loop Capital reissued a “buy” rating and issued a $75.00 price target on shares of Braze in a research note on Tuesday, September 24th. Wells Fargo & Company dropped their price target on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. William Blair reiterated an “outperform” rating on shares of Braze in a report on Thursday. Barclays dropped their price target on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Citigroup boosted their price objective on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Braze presently has an average rating of “Moderate Buy” and an average 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.