Braze, Inc. (NASDAQ:BRZE – Get Rating) shares were up 1.8% during trading on Friday . The company traded as high as $34.83 and last traded at $34.40. Approximately 4,257 shares traded hands during trading, a decline of 99% from the average daily volume of 685,653 shares. The stock had previously closed at $33.79.
Wall Street Analyst Weigh In
A number of research analysts have commented on BRZE shares. Canaccord Genuity Group lowered their price target on Braze from $60.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, June 14th. JMP Securities reduced their price objective on Braze from $75.00 to $52.00 and set a “market outperform” rating for the company in a research report on Tuesday, June 14th. The Goldman Sachs Group reduced their price objective on Braze from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, June 15th. UBS Group began coverage on Braze in a research note on Tuesday, July 12th. They set a “buy” rating and a $53.00 target price on the stock. Finally, Loop Capital cut their target price on Braze from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. Sixteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $54.00.
Braze Price Performance
The company has a market cap of $3.22 billion and a PE ratio of -19.80. The company has a 50-day moving average of $42.96 and a 200 day moving average of $39.58.
Insider Buying and Selling at Braze
In other news, major shareholder Iconiq Strategic Partners Vi, purchased 152,374 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was purchased at an average price of $35.00 per share, for a total transaction of $5,333,090.00. Following the completion of the acquisition, the insider now owns 474,764 shares of the company’s stock, valued at $16,616,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Isabelle Winkles sold 12,888 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $35.79, for a total value of $461,261.52. Following the completion of the transaction, the chief financial officer now owns 33,197 shares of the company’s stock, valued at $1,188,120.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Vi, acquired 152,374 shares of Braze stock in a transaction that occurred on Friday, September 16th. The stock was acquired at an average cost of $35.00 per share, with a total value of $5,333,090.00. Following the purchase, the insider now directly owns 474,764 shares of the company’s stock, valued at $16,616,740. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 581,564 shares of company stock worth $20,361,014 and sold 155,848 shares worth $6,771,451. Company insiders own 32.14% of the company’s stock.
Hedge Funds Weigh In On Braze
Large investors have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in shares of Braze by 50,225.0% during the first quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock valued at $83,000 after buying an additional 2,009 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Braze during the second quarter valued at $140,000. Hamilton Lane Advisors LLC purchased a new stake in Braze in the second quarter valued at $283,000. Legal & General Group Plc purchased a new stake in Braze in the second quarter valued at $305,000. Finally, Sei Investments Co. purchased a new stake in shares of Braze during the 2nd quarter worth about $308,000. 39.38% of the stock is owned by institutional investors and hedge funds.
Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.
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