Insider Selling: Braze, Inc. (NASDAQ:BRZE) CEO Sells $736,801.00 in Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 18,050 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now directly owns 564,766 shares in the company, valued at $23,053,748.12. This represents a 3.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Braze Stock Down 2.7 %

NASDAQ:BRZE opened at $39.55 on Friday. The stock’s 50 day moving average price is $43.42 and its 200 day moving average price is $39.05. The company has a market capitalization of $4.09 billion, a PE ratio of -34.69 and a beta of 1.13. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $59.12.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its stake in Braze by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock worth $559,000 after buying an additional 316 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Braze by 3.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock worth $453,000 after buying an additional 346 shares during the last quarter. Amalgamated Bank grew its stake in Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after buying an additional 358 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after buying an additional 405 shares during the last quarter. Finally, KBC Group NV grew its stake in Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BRZE shares. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. Citigroup increased their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group reduced their price target on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, DA Davidson reduced their price target on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Braze has an average rating of “Moderate Buy” and a consensus target price 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.