Braze, Inc. (NASDAQ:BRZE) Short Interest Up 5.6% in June

Braze, Inc. (NASDAQ:BRZE) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,700,000 shares, a growth of 5.6% from the May 31st total of 4,450,000 shares. Currently, 7.3% of the shares of the company are short sold. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is currently 4.2 days.

Insiders Place Their Bets

In other Braze news, CEO William Magnuson sold 17,839 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the sale, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Braze news, CEO William Magnuson sold 17,839 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the sale, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 9,177 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $383,231.52. Following the completion of the sale, the insider now directly owns 221,906 shares of the company’s stock, valued at $9,266,794.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,894 shares of company stock valued at $3,119,266. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank boosted its holdings in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares during the last quarter. Motley Fool Asset Management LLC acquired a new position in Braze in the first quarter valued at $275,000. California State Teachers Retirement System boosted its holdings in Braze by 5.6% in the first quarter. California State Teachers Retirement System now owns 53,671 shares of the company’s stock valued at $2,378,000 after acquiring an additional 2,844 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of Braze during the first quarter worth about $5,714,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Braze by 7.7% during the first quarter. Quadrature Capital Ltd now owns 36,267 shares of the company’s stock worth $1,607,000 after purchasing an additional 2,585 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BRZE shares. Wells Fargo & Company reduced their price target on Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, April 29th. JPMorgan Chase & Co. reduced their price objective on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. UBS Group raised Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Thursday, March 21st. DA Davidson reaffirmed a “buy” rating and set a $65.00 price objective on shares of Braze in a report on Monday, March 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $60.88.

Braze Stock Up 0.2 %

Shares of NASDAQ:BRZE opened at $39.54 on Friday. The company has a market cap of $4.02 billion, a P/E ratio of -30.89 and a beta of 1.06. Braze has a 52 week low of $33.93 and a 52 week high of $61.53. The business has a fifty day simple moving average of $39.20 and a 200-day simple moving average of $47.14.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The business had revenue of $135.46 million during the quarter, compared to the consensus estimate of $131.56 million. Sell-side analysts expect that Braze will post -1.21 earnings per share for the current fiscal year.

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.