Braze, Inc. (NASDAQ:BRZE) Short Interest Update

Braze, Inc. (NASDAQ:BRZE) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 3,940,000 shares, a decline of 18.1% from the December 31st total of 4,810,000 shares. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 5.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

BRZE has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Braze in a research report on Monday. Wells Fargo & Company reduced their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. The Goldman Sachs Group cut their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Citigroup raised their price objective on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.74.

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the completion of the transaction, the chief accounting officer now owns 67,095 shares in the company, valued at approximately $2,311,422.75. This represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the sale, the general counsel now owns 189,520 shares of the company’s stock, valued at approximately $8,949,134.40. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,583 shares of company stock worth $7,797,668 in the last ninety days. 24.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BRZE. Quarry LP purchased a new position in Braze during the 2nd quarter worth $50,000. KBC Group NV boosted its position in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after buying an additional 615 shares during the period. Amalgamated Bank grew its position in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after buying an additional 358 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Braze in the 4th quarter valued at approximately $165,000. Finally, Moody National Bank Trust Division purchased a new stake in shares of Braze in the 4th quarter worth approximately $233,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Price Performance

BRZE stock traded down $4.46 during trading on Monday, reaching $41.52. 2,167,898 shares of the company were exchanged, compared to its average volume of 1,097,038. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -36.42 and a beta of 1.13. The company has a 50-day moving average of $43.13 and a two-hundred day moving average of $38.93. Braze has a twelve month low of $29.18 and a twelve month high of $61.53.

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.