Braze (NASDAQ:BRZE) CAO Pankaj Malik Sells 4,174 Shares

Key Points

• Pankaj Malik, CAO of Braze, Inc., sold 4,174 shares at an average price of $32.77, totaling approximately $136,782, which decreased his stake by 6.24%.
• Braze's stock is currently trading at $32.65, with a market capitalization of $3.63 billion and a fifty-two week high of $48.33.
• Recent analyst ratings show a consensus of "Moderate Buy", with target prices ranging from $39.00 to $52.00, indicating strong interest from institutional investors.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) CAO Pankaj Malik sold 4,174 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $32.77, for a total transaction of $136,781.98. Following the sale, the chief accounting officer owned 62,756 shares in the company, valued at $2,056,514.12. This represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, August 19th, Pankaj Malik sold 2,344 shares of Braze stock. The shares were sold at an average price of $25.94, for a total transaction of $60,803.36.

Braze Price Performance

Braze stock traded up $0.61 during trading hours on Monday, hitting $32.65. The company had a trading volume of 1,965,300 shares, compared to its average volume of 1,513,786. The firm has a market capitalization of $3.63 billion, a P/E ratio of -31.39 and a beta of 1.10. The firm's fifty day moving average is $27.93 and its 200-day moving average is $30.59. Braze, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $48.33.

Hedge Funds Weigh In On Braze

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after acquiring an additional 517 shares during the period. Quarry LP boosted its stake in Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after buying an additional 595 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Braze in the first quarter valued at $36,000. SBI Securities Co. Ltd. grew its position in Braze by 173.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company's stock valued at $39,000 after acquiring an additional 870 shares during the period. Finally, Versant Capital Management Inc bought a new stake in Braze in the first quarter valued at $54,000. 90.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

BRZE has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Braze in a research report on Friday, September 5th. Canaccord Genuity Group reiterated a "buy" rating and issued a $43.00 target price on shares of Braze in a research note on Friday, September 5th. Barclays raised their target price on shares of Braze from $35.00 to $39.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. The Goldman Sachs Group set a $52.00 target price on shares of Braze and gave the company a "buy" rating in a research note on Saturday, September 6th. Finally, Stephens set a $41.00 target price on shares of Braze and gave the company an "overweight" rating in a research note on Friday, June 6th. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $45.10.

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.

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