Insider Selling: Braze, Inc. (NASDAQ:BRZE) CTO Sells 5,210 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 5,210 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the transaction, the chief technology officer now owns 157,810 shares in the company, valued at $6,441,804.20. The trade was a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Braze Stock Performance

Shares of NASDAQ:BRZE traded down $0.18 during midday trading on Thursday, reaching $40.66. 1,315,267 shares of the company’s stock traded hands, compared to its average volume of 1,127,326. The company has a market cap of $4.21 billion, a price-to-earnings ratio of -35.67 and a beta of 1.13. Braze, Inc. has a one year low of $29.18 and a one year high of $59.12. The stock has a 50 day moving average of $43.46 and a 200 day moving average of $39.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BRZE. Vanguard Group Inc. lifted its holdings in Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after acquiring an additional 1,476,423 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Braze by 2.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company’s stock worth $112,798,000 after buying an additional 63,000 shares during the period. JPMorgan Chase & Co. grew its position in shares of Braze by 27.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock worth $96,711,000 after purchasing an additional 500,667 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Braze by 121.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock worth $92,028,000 after purchasing an additional 1,203,149 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Braze by 107.0% during the fourth quarter. Invesco Ltd. now owns 1,963,841 shares of the company’s stock worth $82,246,000 after purchasing an additional 1,015,007 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

BRZE has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Oppenheimer reiterated an “outperform” rating and set a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. Citigroup lifted their target price on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. William Blair reissued an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Braze presently has a consensus 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.