Myles Kleeger Sells 37,900 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 37,900 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the completion of the transaction, the insider now owns 184,396 shares in the company, valued at approximately $8,318,103.56. This represents a 17.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 value 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 value of $317,801.25.

Braze Stock Up 0.7 %

BRZE traded up $0.31 during midday trading on Friday, reaching $44.31. The company had a trading volume of 2,463,202 shares, compared to its average volume of 1,100,494. The business has a 50-day moving average of $36.25 and a two-hundred day moving average of $37.46. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53. The company has a market cap of $4.55 billion, a P/E ratio of -38.87 and a beta of 1.15.

Institutional Investors Weigh In On Braze

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Braze during the second quarter valued at approximately $50,000. KBC Group NV raised its position in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares during the period. Amalgamated Bank lifted its stake in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares in the last quarter. Evoke Wealth LLC bought a new position in Braze in the 2nd quarter worth $215,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Braze in the 2nd quarter worth $229,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective 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 reaffirmed an “outperform” rating and set a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Citigroup lifted their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler increased their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus lifted their target price on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.