Insider Selling: Braze, Inc. (NASDAQ:BRZE) Insider Sells $454,300.00 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 10,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.43, for a total transaction of $454,300.00. Following the transaction, the insider now owns 184,396 shares of the company’s stock, valued at approximately $8,377,110.28. The trade was a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, December 18th, Myles Kleeger sold 37,900 shares of Braze stock. The stock was sold at an average price of $45.11, for a total transaction 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 transaction of $94,500.00.
• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The shares were 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 shares were sold at an average price of $34.45, for a total transaction of $317,801.25.

Braze Price Performance

Shares of BRZE stock opened at $42.63 on Friday. The firm has a market cap of $4.41 billion, a P/E ratio of -37.39 and a beta of 1.11. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The firm’s 50-day simple moving average is $40.04 and its 200-day simple moving average is $38.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BRZE. JPMorgan Chase & Co. lifted its holdings 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 acquiring 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 about $20,794,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings 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 period. Granite Investment Partners LLC purchased a new position in shares of Braze during the 2nd quarter worth about $12,925,000. Finally, State Street Corp raised its holdings in Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after buying an additional 279,050 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRZE has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. The Goldman Sachs Group cut their price target 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. Loop Capital reiterated a “buy” rating and issued a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. DA Davidson lowered their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Finally, Oppenheimer reissued an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company 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.