Short Interest in Braze, Inc. (NASDAQ:BRZE) Decreases By 9.9%

Braze, Inc. (NASDAQ:BRZE) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,020,000 shares, a drop of 9.9% from the October 15th total of 4,460,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 3.3 days. Approximately 5.5% of the company’s shares are short sold.

Braze Stock Down 3.9 %

Shares of NASDAQ BRZE traded down $1.43 during trading on Friday, hitting $35.06. The company had a trading volume of 1,106,431 shares, compared to its average volume of 1,042,655. The stock has a fifty day simple moving average of $32.83 and a two-hundred day simple moving average of $37.60. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (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 company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the previous year, the firm posted ($0.30) EPS. Braze’s revenue was up 26.4% compared to the same quarter last year. Equities analysts predict that Braze will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now owns 8,937 shares of the company’s stock, valued at $273,919.05. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,252 shares of company stock valued at $5,977,839 in the last 90 days. Company insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Braze in the 1st quarter worth approximately $114,000. Swiss National Bank boosted its stake in Braze by 14.3% during the first quarter. Swiss National Bank now owns 106,000 shares of the company’s stock worth $4,696,000 after buying an additional 13,300 shares during the last quarter. Sei Investments Co. grew its holdings in Braze by 12.9% in the 1st quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock valued at $5,005,000 after buying an additional 12,878 shares in the last quarter. US Bancorp DE increased its stake in shares of Braze by 59.6% in the 1st quarter. US Bancorp DE now owns 18,720 shares of the company’s stock worth $829,000 after acquiring an additional 6,991 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Braze by 15.2% during the 1st quarter. ProShare Advisors LLC now owns 13,999 shares of the company’s stock worth $620,000 after acquiring an additional 1,849 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BRZE has been the topic of a number of recent research reports. Stifel Nicolaus started coverage on Braze in a research report on Tuesday, October 22nd. They set a “buy” rating and a $37.00 price objective on the stock. TD Cowen cut their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. DA Davidson decreased their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Barclays cut their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a research report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.47.

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.