Braze (NASDAQ:BRZE) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Braze (NASDAQ:BRZE) in a report released on Tuesday, Marketbeat.com reports. The firm issued an overweight rating and a $40.00 price target on the stock.

Several other equities research analysts have also commented on the company. Macquarie cut their price objective on Braze from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, June 6th. Barclays upped their price target on Braze from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Stephens set a $41.00 price target on Braze and gave the company an “overweight” rating in a research report on Friday, June 6th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Braze in a research report on Friday, September 5th. Finally, Loop Capital dropped their price target on Braze from $75.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, June 6th. Nineteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and a consensus target price of $45.11.

Braze Trading Down 1.1%

NASDAQ:BRZE opened at $27.74 on Tuesday. Braze has a 12 month low of $23.91 and a 12 month high of $48.33. The stock has a 50 day moving average of $28.41 and a two-hundred day moving average of $30.42. The firm has a market cap of $3.09 billion, a P/E ratio of -26.67 and a beta of 1.10.

Insider Transactions at Braze

In related news, CEO William Magnuson sold 24,325 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total value of $630,990.50. Following the transaction, the chief executive officer directly owned 721,444 shares in the company, valued at approximately $18,714,257.36. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 4,988 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $129,388.72. Following the completion of the transaction, the general counsel owned 234,667 shares in the company, valued at $6,087,261.98. This represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,798 shares of company stock valued at $2,158,088 in the last ninety days. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new position in Braze in the first quarter valued at approximately $691,000. GAMMA Investing LLC lifted its stake in Braze by 12,025.6% during the first quarter. GAMMA Investing LLC now owns 26,555 shares of the company’s stock worth $958,000 after purchasing an additional 26,336 shares in the last quarter. Vident Advisory LLC acquired a new position in Braze during the first quarter worth $356,000. Vanguard Group Inc. lifted its stake in Braze by 5.3% during the first quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company’s stock worth $321,542,000 after purchasing an additional 447,746 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Braze by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 368,383 shares of the company’s stock worth $13,291,000 after purchasing an additional 25,870 shares in the last quarter. 90.47% of the stock is currently 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.