Braze, Inc. (NASDAQ:BRZE – Get Free Report) insider Astha Malik sold 15,724 shares of Braze stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $29.57, for a total value of $464,958.68. Following the completion of the transaction, the insider owned 326,233 shares of the company’s stock, valued at approximately $9,646,709.81. The trade was a 4.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Astha Malik also recently made the following trade(s):
- On Monday, August 10th, Astha Malik sold 33,656 shares of Braze stock. The stock was sold at an average price of $27.65, for a total value of $930,588.40.
Braze Stock Performance
Shares of BRZE stock opened at $31.06 on Monday. The stock’s fifty day moving average is $24.68 and its 200-day moving average is $22.31. The stock has a market capitalization of $3.50 billion, a PE ratio of -27.73 and a beta of 0.83. Braze, Inc. has a 52 week low of $15.26 and a 52 week high of $37.33.
Institutional Trading of Braze
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Braze by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock valued at $1,415,000 after purchasing an additional 1,700 shares during the period. Intech Investment Management LLC grew its position in shares of Braze by 18.8% during the 1st quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock worth $1,453,000 after buying an additional 6,379 shares during the period. Prudential Financial Inc. bought a new stake in shares of Braze during the second quarter worth approximately $272,000. Russell Investments Group Ltd. lifted its holdings in Braze by 1,353.0% in the second quarter. Russell Investments Group Ltd. now owns 9,619 shares of the company’s stock valued at $270,000 after buying an additional 8,957 shares during the period. Finally, Amundi lifted its holdings in Braze by 8.9% in the second quarter. Amundi now owns 32,581 shares of the company’s stock valued at $918,000 after buying an additional 2,657 shares during the period. 90.47% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $38.00 target price on shares of Braze in a research note on Thursday, May 28th. Mizuho decreased their price target on shares of Braze from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, May 28th. JPMorgan Chase & Co. raised their price target on shares of Braze from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Citizens Jmp restated a “market outperform” rating and issued a $35.00 price objective on shares of Braze in a research report on Thursday, May 28th. Finally, Citigroup reduced their price objective on Braze from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.06.
Read Our Latest Report on Braze
Braze Company Profile
Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.
The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.
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