Braze (NASDAQ:BRZE) Insider Astha Malik Sells 3,270 Shares

Key Points

• Astha Malik sold 3,270 shares of Braze (NASDAQ:BRZE) at an average price of $32.51, totaling $106,307.70, which reduced her holdings by 1.38% to 233,660 shares.
• Following the sale, Braze shares traded down 3.1% to $31.31, with a market cap of $3.31 billion and P/E ratio of -30.11.
• Several hedge funds have increased their positions in Braze, with institutional investors owning about 90.47% of the company's stock.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) insider Astha Malik sold 3,270 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $32.51, for a total transaction of $106,307.70. Following the completion of the transaction, the insider owned 233,660 shares in the company, valued at approximately $7,596,286.60. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Astha Malik also recently made the following trade(s):

• On Tuesday, August 19th, Astha Malik sold 13,049 shares of Braze stock. The shares were sold at an average price of $25.94, for a total transaction of $338,491.06.
• On Monday, July 28th, Astha Malik sold 9,001 shares of Braze stock. The shares were sold at an average price of $30.01, for a total transaction of $270,120.01.

Braze Trading Down 2.4%

Shares of BRZE stock traded down $0.74 during trading on Friday, reaching $30.14. 1,568,611 shares of the company's stock traded hands, compared to its average volume of 2,149,073. The company has a market capitalization of $3.35 billion, a P/E ratio of -28.98 and a beta of 1.10. The firm's 50-day moving average is $27.58 and its 200 day moving average is $30.78. Braze, Inc. has a 1 year low of $23.91 and a 1 year high of $48.33.

Analysts Set New Price Targets

A number of analysts recently weighed in on BRZE shares. Barclays upped their target price on shares of Braze from $35.00 to $39.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Oppenheimer decreased their target price on shares of Braze from $44.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Citigroup upped their target price on shares of Braze from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Mizuho upped their target price on shares of Braze from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Finally, Piper Sandler upped their target price on shares of Braze from $38.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Braze has a consensus rating of "Moderate Buy" and a consensus price target of $45.10.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently made changes to their positions in BRZE. Tower Research Capital LLC TRC raised its position in Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after purchasing an additional 405 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Braze by 2.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock worth $559,000 after purchasing an additional 316 shares during the period. Ameriprise Financial Inc. raised its position in Braze by 78.6% in the 4th quarter. Ameriprise Financial Inc. now owns 599,192 shares of the company's stock worth $25,094,000 after purchasing an additional 263,694 shares during the period. BNP Paribas Financial Markets purchased a new position in Braze in the 4th quarter worth $803,000. Finally, Bank of America Corp DE raised its position in Braze by 57.6% in the 4th quarter. Bank of America Corp DE now owns 402,690 shares of the company's stock worth $16,865,000 after purchasing an additional 147,127 shares during the period. Hedge funds and other institutional investors own 90.47% of the company's stock.

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.