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

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 stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $32.51, for a total value of $106,307.70. Following the completion of the sale, the insider owned 233,660 shares of the company's stock, valued at approximately $7,596,286.60. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, August 19th, Astha Malik sold 13,049 shares of Braze stock. The stock was sold at an average price of $25.94, for a total value 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 value of $270,120.01.

Braze Trading Down 3.1%

Shares of NASDAQ:BRZE traded down $0.99 during mid-day trading on Tuesday, reaching $31.31. The stock had a trading volume of 3,022,401 shares, compared to its average volume of 1,462,808. The business's 50 day moving average price is $27.41 and its 200 day moving average price is $30.93. Braze, Inc. has a 1 year low of $23.91 and a 1 year high of $48.33. The company has a market cap of $3.31 billion, a P/E ratio of -30.11 and a beta of 1.10.

Hedge Funds Weigh In On Braze

Several hedge funds have recently made changes to their positions in the business. US Bancorp DE boosted its holdings in shares of Braze by 1.4% during the first quarter. US Bancorp DE now owns 21,314 shares of the company's stock worth $769,000 after purchasing an additional 302 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Braze by 2.4% during 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 in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Braze by 168.0% during 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 in the last quarter. IFP Advisors Inc increased its position in Braze by 15.3% in the 1st quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock valued at $122,000 after acquiring an additional 449 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Braze by 2.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 19,621 shares of the company's stock valued at $551,000 after purchasing an additional 461 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group set a $52.00 price target on Braze and gave the stock a "buy" rating in a research report on Saturday. Cantor Fitzgerald raised their price target on shares of Braze from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Friday. Canaccord Genuity Group restated a "buy" rating and issued a $43.00 price target on shares of Braze in a research note on Friday. Loop Capital decreased their price objective on shares of Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, UBS Group dropped their price objective on shares of Braze from $48.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.10.

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.

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