Braze, Inc. (NASDAQ:BRZE) Major Shareholder Morad Elhafed Sells 10,000 Shares

Braze, Inc. (NASDAQ:BRZE) major shareholder Morad Elhafed sold 10,000 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $53.49, for a total value of $534,900.00. Following the completion of the sale, the insider now directly owns 62,702 shares of the company’s stock, valued at $3,353,929.98. The trade was a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Braze Trading Up 0.3 %

BRZE stock opened at $45.69 on Friday. The stock’s 50 day simple moving average is $42.13 and its 200 day simple moving average is $38.69. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The stock has a market capitalization of $4.73 billion, a PE ratio of -40.08 and a beta of 1.11.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BRZE shares. William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. The Goldman Sachs Group cut their price objective on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. 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. Wells Fargo & Company dropped their price target on Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Blair William & Co. IL boosted its holdings in Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after purchasing an additional 283 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Braze by 3.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock worth $453,000 after acquiring an additional 346 shares during the period. Amalgamated Bank increased its position in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares during the last quarter. Creative Planning lifted its holdings in Braze by 1.7% in the second quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after acquiring an additional 384 shares during the period. Finally, KBC Group NV boosted its position in Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.