Braze (NASDAQ:BRZE) Shares Down 7.6% - Time to Sell?

Key Points

• Braze's share price fell by 7.6%, trading last at $29.78 after reaching a low of $30.27 during the day.
• Analysts have mixed ratings on the stock, with a consensus target price of **$45.11** and a predominant "buy" rating among 19 research analysts.
• Insider activity has been notable, with two insiders selling a total of **17,223 shares**, reflecting a decrease in their ownership positions.

Braze, Inc. (NASDAQ:BRZE - Get Free Report)'s share price fell 7.6% during mid-day trading on Tuesday . The stock traded as low as $30.27 and last traded at $29.78. 900,465 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 1,517,105 shares. The stock had previously closed at $32.22.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BRZE. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Braze in a report on Friday, September 5th. Macquarie reduced their price objective on Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. 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, September 5th. The Goldman Sachs Group set a $52.00 price target on shares of Braze and gave the stock a "buy" rating in a research note on Saturday, September 6th. Finally, Piper Sandler boosted their target price on Braze from $38.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Nineteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.11.

Braze Stock Down 7.5%

The firm has a market cap of $3.32 billion, a PE ratio of -28.64 and a beta of 1.10. The firm's 50 day moving average is $28.44 and its 200-day moving average is $30.51.

Insider Activity at Braze

In other Braze news, insider Astha Malik sold 13,049 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total transaction of $338,491.06. Following the transaction, the insider owned 236,930 shares of the company's stock, valued at $6,145,964.20. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 4,174 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $32.77, for a total transaction of $136,781.98. Following the transaction, the chief accounting officer directly owned 62,756 shares in the company, valued at approximately $2,056,514.12. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,798 shares of company stock valued at $2,158,088 over the last 90 days. 18.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after purchasing an additional 517 shares in the last quarter. Quarry LP grew its holdings in Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after purchasing an additional 595 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Braze during the 1st quarter valued at $36,000. SBI Securities Co. Ltd. grew its holdings in Braze by 173.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company's stock valued at $39,000 after purchasing an additional 870 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new stake in Braze during the 1st quarter valued at $54,000. 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.

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