Braze (NASDAQ:BRZE) Stock Price Down 7.2% – What’s Next?

Braze, Inc. (NASDAQ:BRZE) shares were down 7.2% on Monday . The company traded as low as $42.28 and last traded at $42.68. Approximately 365,846 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,005,745 shares. The stock had previously closed at $45.98.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BRZE shares. William Blair reissued an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Macquarie upped their target price on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. DA Davidson cut their price target on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Citigroup upped their price objective on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company reduced their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 26th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Price Performance

The company has a 50 day moving average price of $43.20 and a 200 day moving average price of $38.95.

Insider Buying and Selling at Braze

In related news, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the transaction, the general counsel now owns 189,520 shares of the company’s stock, valued at $8,949,134.40. The trade was a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $42.02, for a total value of $63,030.00. Following the completion of the sale, the director now directly owns 15,269 shares of the company’s stock, valued at $641,603.38. The trade was a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,583 shares of company stock valued at $7,797,668. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its stake in Braze by 3.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after buying an additional 346 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares in the last quarter. Creative Planning increased its position in shares of Braze by 1.7% during the second quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after acquiring an additional 384 shares during the last quarter. KBC Group NV lifted its holdings in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares during the period. Finally, Diversified Trust Co boosted its position in Braze by 4.1% in the third quarter. Diversified Trust Co now owns 26,697 shares of the company’s stock worth $863,000 after purchasing an additional 1,050 shares during the last quarter. 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.