Braze (NASDAQ:BRZE) Shares Down 2.2%

Braze, Inc. (NASDAQ:BRZE)’s stock price fell 2.2% during trading on Tuesday . The stock traded as low as $49.54 and last traded at $49.85. 121,230 shares changed hands during trading, a decline of 82% from the average session volume of 688,291 shares. The stock had previously closed at $50.97.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler upped their target price on Braze from $57.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, December 7th. UBS Group raised shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Thursday, March 21st. Barclays lifted their price objective on shares of Braze from $65.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, December 7th. Scotiabank upped their target price on shares of Braze from $54.00 to $65.00 and gave the company a “sector perform” rating in a report on Thursday, December 7th. Finally, JMP Securities lifted their price target on Braze from $56.00 to $68.00 and gave the stock a “market outperform” rating in a report on Thursday, December 7th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.76.

Braze Stock Performance

The company has a 50 day simple moving average of $55.05 and a 200 day simple moving average of $51.24.

Insider Activity at Braze

In other Braze news, CFO Isabelle Winkles sold 5,489 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.51, for a total value of $315,672.39. Following the sale, the chief financial officer now owns 282,564 shares in the company, valued at $16,250,255.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Jonathan Hyman sold 3,730 shares of Braze stock in a transaction on Friday, February 16th. The shares were sold at an average price of $57.51, for a total transaction of $214,512.30. Following the transaction, the chief technology officer now owns 183,258 shares in the company, valued at $10,539,167.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Isabelle Winkles sold 5,489 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $57.51, for a total value of $315,672.39. Following the completion of the sale, the chief financial officer now owns 282,564 shares of the company’s stock, valued at $16,250,255.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,471 shares of company stock valued at $4,196,153. 26.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Braze

Several large investors have recently modified their holdings of BRZE. Fred Alger Management LLC bought a new stake in Braze in the third quarter worth approximately $29,000. BluePath Capital Management LLC acquired a new position in shares of Braze during the 3rd quarter valued at $31,000. Neo Ivy Capital Management bought a new position in Braze during the fourth quarter worth $40,000. Royal Bank of Canada boosted its stake in Braze by 189.3% during the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after acquiring an additional 759 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new stake in Braze in the fourth quarter worth $42,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.