Braze Sees Unusually High Options Volume (NASDAQ:BRZE)

Key Points

• Braze saw unusually heavy options activity on Monday, with investors purchasing 12,384 call options—about 678% above the typical volume.
• BRZE shares closed at $33.93, with analysts maintaining a broadly positive outlook. The stock carries a “Moderate Buy” consensus rating and an average price target of $35.76.
• Institutional investors own 90.47% of Braze, while insiders have sold 203,568 shares worth approximately $6.1 million over the past 90 days, including transactions conducted under pre-arranged Rule 10b5-1 plans.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) was the target of unusually large options trading on Monday. Stock investors purchased 12,384 call options on the company. This represents an increase of approximately 678% compared to the typical volume of 1,591 call options.

Braze Stock Performance

Shares of BRZE stock traded down $0.60 during trading hours on Monday, hitting $33.93. 1,159,477 shares of the company were exchanged, compared to its average volume of 2,940,653. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -30.29 and a beta of 0.83. Braze has a one year low of $15.26 and a one year high of $37.33. The business's 50-day simple moving average is $25.85 and its two-hundred day simple moving average is $22.80.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Cowen upped their target price on Braze from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday. Mizuho dropped their target price on Braze from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price target on Braze from $33.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $35.00 price objective on shares of Braze in a research report on Thursday, May 28th. Finally, DA Davidson restated a "buy" rating and set a $33.00 target price on shares of Braze in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $35.76.

Insider Transactions at Braze

In related news, insider Astha Malik sold 15,724 shares of Braze stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $29.57, for a total transaction of $464,958.68. Following the transaction, the insider owned 326,233 shares in the company, valued at approximately $9,646,709.81. The trade was a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jonathan Hyman sold 42,000 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $32.47, for a total transaction of $1,363,740.00. Following the sale, the chief technology officer directly owned 1,143,219 shares of the company's stock, valued at approximately $37,120,320.93. This trade represents a 3.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 203,568 shares of company stock valued at $6,096,461 over the last 90 days. Corporate insiders own 12.50% of the company's stock.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently bought and sold shares of BRZE. California State Teachers Retirement System boosted its position in Braze by 1,832.1% during the 2nd quarter. California State Teachers Retirement System now owns 2,019,361 shares of the company's stock valued at $43,800,000 after purchasing an additional 1,914,845 shares during the period. Alyeska Investment Group L.P. lifted its stake in Braze by 592.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,105,024 shares of the company's stock valued at $72,181,000 after buying an additional 1,801,019 shares during the last quarter. UBS Group AG lifted its stake in Braze by 421.1% in the third quarter. UBS Group AG now owns 1,279,678 shares of the company's stock valued at $36,394,000 after buying an additional 1,034,087 shares during the last quarter. Battery Management CORP. boosted its holdings in shares of Braze by 70.2% during the third quarter. Battery Management CORP. now owns 2,425,000 shares of the company's stock valued at $68,967,000 after acquiring an additional 1,000,000 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Braze by 238.2% during the third quarter. Bank of America Corp DE now owns 1,351,227 shares of the company's stock worth $38,429,000 after acquiring an additional 951,674 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Company Profile

Braze, Inc is a publicly traded software company NASDAQ: BRZE that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze's platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.

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