Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik Sells 4,656 Shares

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 4,656 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $43.65, for a total transaction of $203,234.40. Following the completion of the sale, the chief accounting officer now directly owns 58,484 shares of the company’s stock, valued at $2,552,826.60. This trade represents a 7.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Pankaj Malik also recently made the following trade(s):

• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The shares were sold at an average price of $41.41, for a total transaction of $163,776.55.
• On Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40.

Braze Price Performance

Shares of BRZE opened at $43.37 on Thursday. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53. The stock has a fifty day moving average price of $35.97 and a 200 day moving average price of $37.41. The company has a market cap of $4.46 billion, a P/E ratio of -38.04 and a beta of 1.15.

Hedge Funds Weigh In On Braze

Several institutional investors have recently modified their holdings of BRZE. Comerica Bank lifted its position in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the last quarter. AMI Asset Management Corp acquired a new stake in shares of Braze in the second quarter valued at approximately $1,033,000. Bank of New York Mellon Corp raised its holdings in shares of Braze by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock valued at $18,554,000 after buying an additional 73,764 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Braze by 12.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,549 shares of the company’s stock valued at $487,000 after buying an additional 1,437 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in shares of Braze during the second quarter worth approximately $7,349,000. Institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BRZE. JMP Securities restated a “market outperform” rating and set a $68.00 target price on shares of Braze in a research note on Tuesday, September 24th. The Goldman Sachs Group lowered their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut their target price on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company decreased their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Finally, DA Davidson cut their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. 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, Braze has an average rating of “Moderate Buy” and a consensus target price of $53.74.

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.