Braze, Inc. (NASDAQ:BRZE) Short Interest Update

Braze, Inc. (NASDAQ:BRZE) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 4,810,000 shares, a growth of 11.9% from the December 15th total of 4,300,000 shares. Based on an average trading volume of 1,360,000 shares, the short-interest ratio is presently 3.5 days. Approximately 6.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Oppenheimer reiterated an “outperform” rating and set a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. Macquarie lifted their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, 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. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Braze Trading Up 0.0 %

NASDAQ:BRZE traded up $0.02 during midday trading on Friday, hitting $44.11. 1,458,037 shares of the company traded hands, compared to its average volume of 1,143,840. The firm has a market capitalization of $4.56 billion, a P/E ratio of -38.69 and a beta of 1.11. The firm’s fifty day moving average is $41.22 and its 200-day moving average is $38.49. Braze has a 12-month low of $29.18 and a 12-month high of $61.53.

Insider Buying and Selling

In other Braze news, CEO William Magnuson sold 17,933 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $617,791.85. Following the sale, the chief executive officer now owns 582,816 shares in the company, valued at approximately $20,078,011.20. This trade represents a 2.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $42.02, for a total transaction of $63,030.00. Following the completion of the sale, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $641,603.38. This trade represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,583 shares of company stock valued at $7,325,468 over the last 90 days. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several hedge funds and other institutional investors have recently made changes to their positions in BRZE. JPMorgan Chase & Co. boosted its stake in shares of Braze by 146.9% during 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 third quarter valued at approximately $20,794,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Braze by 69.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after buying an additional 612,400 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Braze in the second quarter worth approximately $12,925,000. Finally, State Street Corp lifted 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. Hedge funds and other 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.