Phillip M. Fernandez Sells 1,500 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE - Get Free Report) Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $41.79, for a total value of $62,685.00. Following the completion of the sale, the director now owns 11,056 shares of the company's stock, valued at approximately $462,030.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Braze Trading Down 1.6 %

Shares of NASDAQ BRZE traded down $0.64 during midday trading on Wednesday, hitting $39.53. The company's stock had a trading volume of 703,259 shares, compared to its average volume of 863,901. The business's 50 day moving average is $51.52 and its two-hundred day moving average is $50.92. Braze, Inc. has a 12-month low of $25.76 and a 12-month high of $61.53. The firm has a market cap of $3.99 billion, a P/E ratio of -29.72 and a beta of 1.13.

Analysts Set New Price Targets

BRZE has been the subject of a number of analyst reports. Raymond James reduced their price target on Braze from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Thursday, March 28th. JPMorgan Chase & Co. dropped their price objective on Braze from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, March 28th. Piper Sandler reaffirmed an "overweight" rating and issued a $66.00 price objective on shares of Braze in a research note on Friday, April 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 price objective on shares of Braze in a research note on Thursday, March 28th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Braze in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.29.

Institutional Investors Weigh In On Braze

Several hedge funds and other institutional investors have recently modified their holdings of BRZE. BlackRock Inc. raised its holdings in shares of Braze by 296.6% in the second quarter. BlackRock Inc. now owns 2,604,483 shares of the company's stock worth $114,050,000 after buying an additional 1,947,831 shares during the period. 1832 Asset Management L.P. increased its holdings in Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company's stock worth $81,135,000 after purchasing an additional 1,287,500 shares during the period. Morgan Stanley increased its holdings in Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company's stock worth $251,769,000 after purchasing an additional 899,894 shares during the period. Deutsche Bank AG increased its holdings in Braze by 12,400.1% during the 1st quarter. Deutsche Bank AG now owns 852,010 shares of the company's stock worth $29,454,000 after purchasing an additional 845,194 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Braze by 180.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company's stock worth $60,053,000 after purchasing an additional 826,100 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.

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