Braze (NASDAQ:BRZE) Shares Gap Down to $33.15

Braze, Inc. (NASDAQ:BRZE – Get Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $33.15, but opened at $30.72. Braze shares last traded at $31.85, with a volume of 41,486 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Canaccord Genuity Group lowered their price objective on Braze from $47.00 to $33.00 in a research report on Wednesday, December 14th. BTIG Research began coverage on Braze in a report on Wednesday, January 11th. They issued a “buy” rating and a $34.00 price target for the company. Cowen lowered their price target on Braze from $47.00 to $44.00 in a report on Wednesday, December 14th. DA Davidson began coverage on Braze in a report on Thursday, February 16th. They issued a “neutral” rating and a $34.00 price target for the company. Finally, UBS Group downgraded Braze from a “buy” rating to a “neutral” rating and lowered their price target for the company from $40.00 to $35.00 in a report on Friday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Braze Trading Down 5.8 %

The company has a 50 day moving average price of $31.52 and a 200 day moving average price of $30.60.

Insider Transactions at Braze

In other Braze news, CAO Pankaj Malik sold 2,247 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $32.52, for a total value of $73,072.44. Following the completion of the transaction, the chief accounting officer now owns 74,893 shares in the company, valued at $2,435,520.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Isabelle Winkles sold 1,000 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $30.77, for a total transaction of $30,770.00. Following the sale, the chief financial officer now owns 28,963 shares of the company’s stock, valued at $891,191.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 2,247 shares of the stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $32.52, for a total value of $73,072.44. Following the sale, the chief accounting officer now directly owns 74,893 shares in the company, valued at approximately $2,435,520.36. The disclosure for this sale can be found here. Company insiders own 32.14% of the company’s stock.

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC purchased a new stake in shares of Braze during the 4th quarter valued at about $36,000. Royal Bank of Canada boosted its position in Braze by 189.3% during the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after acquiring an additional 759 shares during the period. Bank of America Corp DE boosted its position in Braze by 50,225.0% during the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock worth $83,000 after acquiring an additional 2,009 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Braze by 21.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,762 shares of the company’s stock worth $103,000 after buying an additional 669 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Braze in the 3rd quarter worth $108,000. 44.13% of the stock is owned by institutional investors and hedge funds.

Braze Company Profile

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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.