Pankaj Malik Sells 4,656 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 4,656 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $43.65, for a total value of $203,234.40. Following the sale, the chief accounting officer now owns 58,484 shares in the company, valued at approximately $2,552,826.60. The trade was a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Pankaj Malik also recently made the following trade(s):

• On Friday, December 13th, Pankaj Malik sold 3,955 shares of Braze stock. The stock was sold at an average price of $41.41, for a total value of $163,776.55.
• On Monday, November 18th, Pankaj Malik sold 3,432 shares of Braze stock. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40.

Braze Trading Down 3.1 %

Shares of Braze stock opened at $43.37 on Thursday. The stock has a market capitalization of $4.46 billion, a P/E ratio of -38.04 and a beta of 1.15. The business’s fifty day moving average price is $35.97 and its 200 day moving average price is $37.41. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53.

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently modified their holdings of the company. Stephens Investment Management Group LLC purchased a new position in Braze in the third quarter valued at approximately $20,794,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Braze by 69.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after acquiring an additional 612,400 shares in the last quarter. Granite Investment Partners LLC purchased a new position in shares of Braze in the 2nd quarter valued at $12,925,000. State Street Corp lifted its holdings in shares of Braze by 21.5% during the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after acquiring an additional 279,050 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Braze during the 2nd quarter valued at $10,166,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BRZE shares. Wells Fargo & Company cut their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. JPMorgan Chase & Co. cut their price objective on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research note on Tuesday, September 24th. DA Davidson dropped their price target on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Finally, Barclays reduced their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

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.