Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik Sells 3,700 Shares

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,700 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the completion of the sale, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at $2,507,463.68. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Pankaj Malik also recently made the following trade(s):

• On Monday, December 16th, Pankaj Malik sold 4,656 shares of Braze stock. The stock was sold at an average price of $43.65, for a total transaction of $203,234.40.
• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The stock was sold at an average price of $41.41, for a total transaction of $163,776.55.
• On Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The shares were sold at an average price of $34.45, for a total transaction of $118,232.40.

Braze Trading Down 3.4 %

NASDAQ:BRZE opened at $42.63 on Friday. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53. The company has a market cap of $4.41 billion, a PE ratio of -37.39 and a beta of 1.11. The company has a 50 day simple moving average of $40.04 and a two-hundred day simple moving average of $38.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group decreased their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Loop Capital reaffirmed a “buy” rating and set a $75.00 target price on shares of Braze in a research note on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price (down previously from $70.00) on shares of Braze in a research note on Tuesday, December 10th. DA Davidson decreased their target price on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, December 10th. Finally, Citigroup raised their target price on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Institutional Investors Weigh In On Braze

A number of large investors have recently added to or reduced their stakes in BRZE. JPMorgan Chase & Co. grew its position in Braze by 146.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock worth $58,489,000 after purchasing an additional 1,075,998 shares during the period. Stephens Investment Management Group LLC purchased a new position in shares of Braze during the 3rd quarter worth $20,794,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Braze by 69.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after acquiring an additional 612,400 shares during the last quarter. Granite Investment Partners LLC purchased a new position in shares of Braze during the 2nd quarter worth $12,925,000. Finally, State Street Corp boosted its stake in shares of Braze by 21.5% during the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after acquiring an additional 279,050 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

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.