Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 2,100 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 2,100 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.00, for a total value of $94,500.00. Following the sale, the insider now owns 184,396 shares in the company, valued at approximately $8,297,820. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The stock was 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 stock was sold at an average price of $34.45, for a total transaction of $317,801.25.

Braze Stock Performance

Shares of BRZE opened at $43.37 on Thursday. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The firm has a 50-day simple moving average of $35.97 and a 200-day simple moving average of $37.41. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of -38.04 and a beta of 1.15.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Braze during the third quarter worth approximately $253,000. Geode Capital Management LLC increased its position in Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after purchasing an additional 229,660 shares during the period. Vestcor Inc purchased a new position in shares of Braze during the 3rd quarter worth approximately $1,617,000. Bullseye Asset Management LLC lifted its holdings in shares of Braze by 14.3% in the 3rd quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock valued at $801,000 after buying an additional 3,100 shares during the period. Finally, Barclays PLC boosted its stake in shares of Braze by 148.1% in the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after buying an additional 64,093 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Citigroup lifted their price target on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Barclays dropped their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Wells Fargo & Company decreased their target price on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. Finally, Piper Sandler increased their price target on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Company Profile

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.