Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 7,149 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 7,149 shares of Braze stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $291,822.18. Following the completion of the transaction, the insider now directly owns 177,247 shares of the company’s stock, valued at $7,235,222.54. The trade was a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, February 20th, Myles Kleeger sold 8,365 shares of Braze stock. The shares were sold at an average price of $40.12, for a total transaction of $335,603.80.
• On Monday, January 6th, Myles Kleeger sold 10,000 shares of Braze stock. The stock was sold at an average price of $45.43, for a total value of $454,300.00.
• On Wednesday, December 18th, Myles Kleeger sold 37,900 shares of Braze stock. The shares were sold at an average price of $45.11, for a total value of $1,709,669.00.
• 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 value of $94,500.00.

Braze Stock Performance

NASDAQ BRZE opened at $39.55 on Friday. Braze, Inc. has a one year low of $29.18 and a one year high of $59.12. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -34.69 and a beta of 1.13. The company’s 50-day simple moving average is $43.42 and its two-hundred day simple moving average is $39.05.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently modified their holdings of BRZE. Charles Schwab Investment Management Inc. raised its stake in Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after buying an additional 57,713 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Braze by 195.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after acquiring an additional 51,411 shares during the period. Victory Capital Management Inc. raised its position in shares of Braze by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after acquiring an additional 19,567 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Braze in the 3rd quarter worth $673,000. Finally, Holocene Advisors LP lifted its stake in shares of Braze by 52.7% during the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after purchasing an additional 29,123 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BRZE has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Wells Fargo & Company dropped their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. DA Davidson reduced their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Macquarie boosted their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.