Myles Kleeger Sells 7,149 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 7,149 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $291,822.18. Following the completion of the sale, the insider now owns 177,247 shares in the company, valued at $7,235,222.54. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, February 20th, Myles Kleeger sold 8,365 shares of Braze stock. The stock was sold at an average price of $40.12, for a total value of $335,603.80.
• On Monday, January 6th, Myles Kleeger sold 10,000 shares of Braze stock. The shares were sold at an average price of $45.43, for a total value of $454,300.00.
• On Wednesday, December 18th, Myles Kleeger sold 37,900 shares of Braze stock. The shares were sold at an average price of $45.11, for a total value of $1,709,669.00.
• 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 value of $94,500.00.

Braze Price Performance

BRZE stock traded down $0.18 during mid-day trading on Thursday, reaching $40.66. The company had a trading volume of 1,315,267 shares, compared to its average volume of 1,127,326. The firm has a 50 day moving average of $43.49 and a 200 day moving average of $39.00. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $59.12. The company has a market capitalization of $4.21 billion, a PE ratio of -35.67 and a beta of 1.13.

Wall Street Analysts Forecast Growth

BRZE has been the topic of several recent analyst reports. Macquarie raised their target price on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group cut their target price on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Citigroup raised 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. DA Davidson lowered their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.74.

Institutional Investors Weigh In On Braze

A number of hedge funds and other institutional investors have recently bought and sold shares of BRZE. ShawSpring Partners LLC purchased a new stake in Braze during the fourth quarter valued at approximately $62,837,000. Norges Bank purchased a new stake in Braze during the fourth quarter valued at approximately $62,639,000. Vanguard Group Inc. lifted its position in Braze by 21.1% during 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Braze by 121.0% in 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 buying an additional 1,203,149 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Braze in the fourth quarter worth $50,000,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.