Braze (NASDAQ:BRZE) Trading Down 7.2% – Here’s Why

Braze, Inc. (NASDAQ:BRZE) shares traded down 7.2% during trading on Monday . The stock traded as low as $42.28 and last traded at $42.68. 365,846 shares were traded during trading, a decline of 64% from the average session volume of 1,005,745 shares. The stock had previously closed at $45.98.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson dropped their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Citigroup upped their price target on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Piper Sandler lifted their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Stifel Nicolaus lifted their price target on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Stock Down 8.7 %

The company has a 50 day simple moving average of $43.08 and a two-hundred day simple moving average of $38.92. The company has a market capitalization of $4.34 billion, a P/E ratio of -36.84 and a beta of 1.13.

Insider Activity

In related news, insider Myles Kleeger sold 9,225 shares of Braze stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $317,801.25. Following the sale, the insider now owns 190,738 shares of the company’s stock, valued at approximately $6,570,924.10. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Magnuson sold 17,933 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $617,791.85. Following the completion of the sale, the chief executive officer now owns 582,816 shares of the company’s stock, valued at $20,078,011.20. This trade represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,583 shares of company stock worth $7,797,668. 24.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB grew its holdings in Braze by 73.1% during the fourth quarter. Handelsbanken Fonder AB now owns 16,100 shares of the company’s stock worth $674,000 after acquiring an additional 6,800 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Braze in the fourth quarter valued at about $165,000. Peregrine Capital Management LLC boosted its holdings in Braze by 1.8% during the fourth quarter. Peregrine Capital Management LLC now owns 229,006 shares of the company’s stock worth $9,591,000 after buying an additional 4,109 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Braze during the fourth quarter worth about $236,000. Finally, Stephens Investment Management Group LLC increased its holdings in Braze by 20.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock valued at $32,343,000 after buying an additional 129,298 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

About Braze

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.