Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 10,000 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.43, for a total value of $454,300.00. Following the completion of the transaction, the insider now owns 184,396 shares of the company’s stock, valued at approximately $8,377,110.28. This represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, December 18th, Myles Kleeger sold 37,900 shares of Braze stock. The stock was sold at an average price of $45.11, for a total transaction 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 transaction of $94,500.00.
• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The stock was sold at an average price of $36.03, for a total transaction 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 Trading Down 1.0 %

BRZE traded down $0.45 during midday trading on Wednesday, hitting $44.15. 910,053 shares of the company were exchanged, compared to its average volume of 1,424,351. The company’s 50 day simple moving average is $39.78 and its 200 day simple moving average is $38.21. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of -38.73 and a beta of 1.11. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Modus Advisors LLC purchased a new stake in Braze in the 4th quarter worth approximately $253,000. JPMorgan Chase & Co. increased its stake in shares of Braze by 146.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after purchasing an additional 1,075,998 shares in the last quarter. Virtu Financial LLC acquired a new stake in Braze in the third quarter valued at approximately $253,000. Geode Capital Management LLC increased its position in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares in the last quarter. Finally, Vestcor Inc acquired a new position in shares of Braze during the 3rd quarter worth approximately $1,617,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on BRZE shares. JMP Securities reiterated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Loop Capital restated a “buy” rating and set a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. TD Cowen lowered their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Macquarie boosted their price objective on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price target 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 research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Braze presently has a consensus rating of “Moderate Buy” and an average 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.