Braze, Inc. (NASDAQ:BRZE) Short Interest Update

Braze, Inc. (NASDAQ:BRZE) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 4,020,000 shares, a drop of 9.9% from the October 15th total of 4,460,000 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 3.3 days. Approximately 5.5% of the company’s stock are sold short.

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 50,000 shares of Braze stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the transaction, the insider now directly owns 199,963 shares of the company’s stock, valued at approximately $9,128,310.95. The trade was a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the sale, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,252 shares of company stock valued at $5,977,839. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of BRZE. Geode Capital Management LLC raised its stake 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 acquiring an additional 229,660 shares during the period. Vestcor Inc purchased a new stake in Braze in the 3rd quarter worth about $1,617,000. Bullseye Asset Management LLC lifted its stake in Braze by 14.3% in the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after purchasing an additional 3,100 shares during the last quarter. Barclays PLC lifted its stake in Braze by 148.1% in the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after purchasing an additional 64,093 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Braze by 566.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 46,099 shares of the company’s stock valued at $1,491,000 after buying an additional 39,183 shares during the period. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler dropped their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. The Goldman Sachs Group decreased their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. DA Davidson dropped their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Loop Capital reiterated a “buy” rating and set a $75.00 target price on shares of Braze in a research note on Tuesday, September 24th. Finally, Macquarie began coverage on Braze in a research note on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.47.

Braze Trading Down 3.9 %

BRZE stock traded down $1.43 during trading on Friday, reaching $35.06. The company’s stock had a trading volume of 1,106,431 shares, compared to its average volume of 1,042,655. The company’s fifty day moving average is $32.83 and its 200-day moving average is $37.60. Braze has a 1 year low of $29.18 and a 1 year high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same period in the prior year, the company posted ($0.30) EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, analysts predict that Braze will post -1.02 EPS for the current fiscal year.

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.