Braze (NASDAQ:BRZE) Shares Down 3.9%

Braze, Inc. (NASDAQ:BRZE - Get Free Report) dropped 3.9% during trading on Wednesday . The stock traded as low as $41.54 and last traded at $41.54. Approximately 785,483 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 816,615 shares. The stock had previously closed at $43.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BRZE shares. BTIG Research increased their target price on shares of Braze from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, December 7th. JMP Securities increased their price objective on Braze from $56.00 to $68.00 and gave the company a "market outperform" rating in a report on Thursday, December 7th. William Blair restated an "outperform" rating on shares of Braze in a research note on Thursday, March 28th. Piper Sandler restated an "overweight" rating and set a $66.00 target price on shares of Braze in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on Braze from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Braze presently has an average rating of "Moderate Buy" and an average target price of $64.29.

Braze Stock Down 3.2 %

The firm has a market cap of $4.18 billion, a price-to-earnings ratio of -31.46 and a beta of 1.13. The stock has a fifty day moving average price of $53.92 and a 200-day moving average price of $51.11.

Insider Activity

In other news, Director Phillip M. Fernandez sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $59.91, for a total value of $89,865.00. Following the transaction, the director now owns 11,056 shares of the company's stock, valued at $662,364.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $59.91, for a total transaction of $89,865.00. Following the transaction, the director now owns 11,056 shares of the company's stock, valued at $662,364.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Magnuson sold 11,874 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $57.51, for a total value of $682,873.74. Following the transaction, the chief executive officer now directly owns 636,514 shares in the company, valued at approximately $36,605,920.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,471 shares of company stock valued at $4,196,153. Company insiders own 26.48% of the company's stock.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of BRZE. Creative Planning lifted its position in shares of Braze by 1.2% in the fourth quarter. Creative Planning now owns 21,827 shares of the company's stock valued at $1,160,000 after acquiring an additional 249 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Braze by 1.5% during the fourth quarter. Voya Investment Management LLC now owns 20,814 shares of the company's stock worth $1,106,000 after purchasing an additional 299 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Braze by 6.6% during the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company's stock worth $256,000 after purchasing an additional 335 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Braze by 4.3% during the fourth quarter. Legal & General Group Plc now owns 8,303 shares of the company's stock worth $227,000 after purchasing an additional 340 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Braze by 4.6% in the third quarter. Arizona State Retirement System now owns 11,815 shares of the company's stock worth $552,000 after buying an additional 524 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Company Profile

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.