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 stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $42.46, for a total transaction of $100,248.06. Following the completion of the transaction, the director now directly owns 6,101 shares in the company, valued at $259,048.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Braze Stock Down 1.2 %

Shares of NASDAQ BRZE traded down $0.47 during trading on Wednesday, hitting $39.70. 447,735 shares of the company were exchanged, compared to its average volume of 860,082. Braze, Inc. has a 12-month low of $25.76 and a 12-month high of $61.53. The company has a fifty day moving average price of $51.52 and a 200-day moving average price of $50.92.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BRZE. Canaccord Genuity Group dropped their price objective on shares of Braze from $70.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Scotiabank lowered their price target on shares of Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Braze in a research note on Thursday, March 28th. Raymond James lowered their price objective on shares of Braze from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $66.00 price objective 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.29.

Hedge Funds Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC raised its stake in shares of Braze by 10.2% during the first quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock worth $561,000 after purchasing an additional 1,205 shares during the last quarter. Renaissance Capital LLC raised its position in Braze by 5.1% in the first quarter. Renaissance Capital LLC now owns 34,885 shares of the company’s stock worth $1,545,000 after acquiring an additional 1,696 shares in the last quarter. Vanguard Group Inc. raised its position in Braze by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after acquiring an additional 480,179 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Braze by 21.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock worth $19,973,000 after acquiring an additional 65,973 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Braze in the fourth quarter worth $40,000. 90.47% of the stock is owned by institutional investors and hedge funds.

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.