Morad Elhafed Sells 10,000 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) major shareholder Morad Elhafed sold 10,000 shares of Braze stock in a transaction on Friday, January 12th. The shares were sold at an average price of $53.49, for a total transaction of $534,900.00. Following the completion of the transaction, the insider now directly owns 62,702 shares of the company’s stock, valued at $3,353,929.98. The trade was a 13.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Braze Stock Performance

Braze stock opened at $45.69 on Friday. The company’s 50 day simple moving average is $42.13 and its 200-day simple moving average is $38.70. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of -40.08 and a beta of 1.11. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53.

Institutional Investors Weigh In On Braze

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Braze by 146.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after acquiring an additional 1,075,998 shares during the period. State Street Corp increased its stake in Braze by 21.5% during the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after buying an additional 279,050 shares during the period. Geode Capital Management LLC increased its stake in Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after buying an additional 229,660 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Braze by 69.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after acquiring an additional 612,400 shares in the last quarter. Finally, Stephens Investment Management Group LLC acquired a new position in Braze during the 3rd quarter worth approximately $20,794,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BRZE. DA Davidson cut their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Braze in a research report on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus boosted their price target on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Company Profile

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.