Braze (NASDAQ:BRZE) Stock Price Down 5.9% - Should You Sell?

Key Points

• Braze shares fell 5.9% to about $30.08 in mid-day trading, with volume roughly 90% below the average session level.
• Analyst sentiment remains broadly positive: 18 analysts rate the stock a Buy and one rates it Strong Buy, producing a “Moderate Buy” consensus and an average price target of $36.59.
• Insiders sold 203,568 shares worth approximately $6.1 million in the last quarter, while institutional investors and hedge funds own 90.47% of Braze’s outstanding stock.

Shares of Braze, Inc. (NASDAQ:BRZE - Get Free Report) fell 5.9% on Tuesday . The stock traded as low as $30.24 and last traded at $30.0750. Approximately 283,013 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,906,865 shares. The stock had previously closed at $31.96.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BRZE shares. UBS Group reaffirmed an "outperform" rating on shares of Braze in a research note on Thursday, May 28th. Cantor Fitzgerald restated an "overweight" rating and set a $38.00 target price on shares of Braze in a research note on Thursday, May 28th. JPMorgan Chase & Co. lifted their target price on Braze from $33.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Citigroup cut their price target on Braze from $49.00 to $48.00 and set a "buy" rating on the stock in a research note on Friday, May 29th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Braze in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.59.

Braze Price Performance

The stock has a market capitalization of $3.41 billion, a P/E ratio of -26.99 and a beta of 0.88. The company has a fifty day moving average of $27.40 and a two-hundred day moving average of $23.45.

Insider Transactions at Braze

In related news, insider Astha Malik sold 33,656 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $27.65, for a total transaction of $930,588.40. Following the sale, the insider directly owned 278,138 shares of the company's stock, valued at approximately $7,690,515.70. This represents a 10.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Edward M. Mcdonnell sold 29,732 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $31.38, for a total value of $932,990.16. Following the transaction, the executive owned 409,630 shares in the company, valued at $12,854,189.40. This trade represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 203,568 shares of company stock worth $6,096,461. 12.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp acquired a new position in shares of Braze in the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in Braze by 3,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company's stock worth $28,000 after acquiring an additional 803 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in Braze in the second quarter worth about $36,000. Osaic Holdings Inc. boosted its stake in Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company's stock valued at $44,000 after acquiring an additional 1,404 shares during the period. Finally, Quarry LP acquired a new position in Braze in the third quarter valued at approximately $46,000. 90.47% of the stock is owned by institutional investors and hedge funds.

About Braze

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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