Insider Selling: Braze, Inc. (NASDAQ:BRZE) Director Sells 2,361 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) Director Fernando Machado sold 2,361 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the sale, the director now owns 6,101 shares in the company, valued at $259,048.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Braze Stock Performance

NASDAQ:BRZE traded down $0.47 on Wednesday, reaching $39.70. The stock had a trading volume of 447,735 shares, compared to its average volume of 860,082. The company has a 50-day moving average of $51.52 and a 200 day moving average of $50.92. Braze, Inc. has a 12-month low of $25.76 and a 12-month high of $61.53.

Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. Creative Planning raised its stake in Braze by 1.2% during the fourth quarter. Creative Planning now owns 21,827 shares of the company’s stock worth $1,160,000 after acquiring an additional 249 shares during the period. Voya Investment Management LLC increased its stake in shares of Braze by 1.5% in the fourth quarter. Voya Investment Management LLC now owns 20,814 shares of the company’s stock valued at $1,106,000 after purchasing an additional 299 shares during the period. HighTower Advisors LLC increased its stake in shares of Braze by 6.6% in the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock valued at $256,000 after purchasing an additional 335 shares during the period. Legal & General Group Plc increased its stake in shares of Braze by 4.3% in the fourth quarter. Legal & General Group Plc now owns 8,303 shares of the company’s stock valued at $227,000 after purchasing an additional 340 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Braze by 4.6% in the third quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock valued at $552,000 after purchasing an additional 524 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BRZE has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Braze in a report on Thursday, March 28th. William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, March 28th. Scotiabank decreased their price target on Braze from $65.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 28th. Raymond James decreased their price target on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. Finally, Piper Sandler reissued an “overweight” rating and set a $66.00 price target on shares of Braze in a research note on Friday, April 5th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Braze presently has a consensus rating of “Moderate Buy” and an average price target of $64.29.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.