Shares of Braze, Inc. (NASDAQ:BRZE – Get Rating) dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as $30.98 and last traded at $30.99. Approximately 6,613 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 757,741 shares. The stock had previously closed at $32.73.
BRZE has been the topic of several research reports. Needham & Company LLC dropped their target price on shares of Braze from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, March 31st. Piper Sandler dropped their target price on shares of Braze from $85.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, March 31st. The Goldman Sachs Group dropped their target price on shares of Braze from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, March 16th. JMP Securities decreased their price target on shares of Braze from $90.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 12th. Finally, William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, March 31st. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $71.54.
The stock’s fifty day simple moving average is $39.26.
In related news, major shareholder Iconiq Strategic Partners Vi, acquired 17,172 shares of the stock in a transaction on Friday, April 8th. The stock was bought at an average cost of $37.58 per share, with a total value of $645,323.76. Following the transaction, the insider now directly owns 322,390 shares in the company, valued at $12,115,416.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Isabelle Winkles sold 65,000 shares of the business’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $41.20, for a total transaction of $2,678,000.00. Following the completion of the sale, the chief financial officer now directly owns 20,491 shares of the company’s stock, valued at $844,229.20. The disclosure for this sale can be found here. Insiders acquired a total of 308,867 shares of company stock valued at $11,554,072 over the last three months.
A number of institutional investors have recently added to or reduced their stakes in BRZE. WINTON GROUP Ltd purchased a new stake in Braze in the 4th quarter valued at about $206,000. Renaissance Capital LLC bought a new stake in shares of Braze in the 4th quarter valued at about $277,000. Malaga Cove Capital LLC bought a new stake in shares of Braze in the 1st quarter valued at about $309,000. Millennium Management LLC bought a new stake in shares of Braze in the 4th quarter valued at about $324,000. Finally, Geode Capital Management LLC bought a new stake in shares of Braze in the 4th quarter valued at about $328,000. 23.64% of the stock is owned by institutional investors.
About Braze (NASDAQ:BRZE)
Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.
- Get a free copy of the StockNews.com research report on Braze (BRZE)
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