Braze, Inc. (NASDAQ:BRZE) Short Interest Up 7.3% in September

Braze, Inc. (NASDAQ:BRZE) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 5,010,000 shares, a growth of 7.3% from the September 15th total of 4,670,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is currently 4.3 days. Currently, 7.1% of the company’s shares are sold short.

Insider Buying and Selling at Braze

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of Braze 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 transaction, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Myles Kleeger sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the completion of the sale, the insider now directly owns 199,963 shares in the company, valued at approximately $9,128,310.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Roger H. Lee sold 56,830 shares of the company’s 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 completion of the transaction, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,737 shares of company stock valued at $9,301,358. 24.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Braze

Several institutional investors have recently added to or reduced their stakes in BRZE. Covestor Ltd grew its holdings in Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the last quarter. Quarry LP bought a new position in Braze in the 2nd quarter worth approximately $50,000. Comerica Bank lifted its holdings in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares in the last quarter. Canton Hathaway LLC boosted its position in Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after buying an additional 1,187 shares during the last quarter. Finally, RiverPark Advisors LLC increased its stake in shares of Braze by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after buying an additional 1,411 shares during the period. 90.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BRZE has been the subject of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th. DA Davidson reduced their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Oppenheimer dropped their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, UBS Group lowered their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Eighteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $58.53.

Braze Stock Down 3.0 %

BRZE traded down $0.94 during midday trading on Wednesday, reaching $30.69. 1,721,575 shares of the company’s stock were exchanged, compared to its average volume of 1,030,738. The business has a 50-day simple moving average of $37.29 and a two-hundred day simple moving average of $38.97. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -23.98 and a beta of 1.03. Braze has a one year low of $29.18 and a one year high of $61.53.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 5th. The company reported $0.09 EPS 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 quarter last year, the company earned ($0.30) EPS. Braze’s revenue was up 26.4% on a year-over-year basis. As a group, research analysts anticipate that Braze will post -1.02 EPS for the current fiscal year.

About Braze

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.