Braze, Inc. (NASDAQ:BRZE) Sees Large Increase in Short Interest

Braze, Inc. (NASDAQ:BRZE) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,570,000 shares, a growth of 16.0% from the January 15th total of 3,940,000 shares. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is presently 3.4 days. Approximately 6.5% of the shares of the company are sold short.

Braze Trading Down 0.6 %

BRZE traded down $0.27 during trading on Monday, hitting $41.51. 791,930 shares of the company’s stock traded hands, compared to its average volume of 1,032,896. The company’s 50 day simple moving average is $43.51 and its two-hundred day simple moving average is $38.98. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -36.41 and a beta of 1.13. Braze has a 12-month low of $29.18 and a 12-month high of $59.98.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BRZE. DA Davidson reduced their price objective on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Macquarie lifted their target price on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. Citigroup boosted their target price on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, 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. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.74.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.22, for a total value of $472,200.00. Following the completion of the transaction, the general counsel now owns 189,520 shares in the company, valued at $8,949,134.40. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $43.13, for a total transaction of $64,695.00. Following the completion of the transaction, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $658,551.97. This trade represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,210 shares of company stock worth $6,372,368 in the last ninety days. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently modified their holdings of BRZE. Charles Schwab Investment Management Inc. increased its holdings in Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after acquiring an additional 57,713 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Braze by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after buying an additional 19,567 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Braze by 195.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after buying an additional 51,411 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Braze during the 3rd quarter valued at about $673,000. Finally, Holocene Advisors LP lifted its holdings in shares of Braze by 52.7% in the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after acquiring an additional 29,123 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

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.