Braze Target of Unusually Large Options Trading (NASDAQ:BRZE)

Braze, Inc. (NASDAQ:BRZE) saw unusually large options trading on Tuesday. Stock investors purchased 2,426 call options on the company. This represents an increase of 127% compared to the average daily volume of 1,070 call options.

Insider Transactions at Braze

In related news, CAO Pankaj Malik sold 3,432 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the completion of the sale, the chief accounting officer now owns 67,095 shares of the company’s stock, valued at $2,311,422.75. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Magnuson sold 17,933 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $617,791.85. Following the sale, the chief executive officer now directly owns 582,816 shares of the company’s stock, valued at $20,078,011.20. This represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,979 shares of company stock worth $3,688,914 over the last ninety days. 24.03% of the stock is owned by insiders.

Institutional Trading of Braze

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Braze in the third quarter valued at $253,000. Geode Capital Management LLC grew its position in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after purchasing an additional 229,660 shares in the last quarter. Vestcor Inc purchased a new position in shares of Braze in the third quarter valued at $1,617,000. Bullseye Asset Management LLC grew its position in shares of Braze by 14.3% in the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock valued at $801,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Braze by 148.1% in the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after purchasing an additional 64,093 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on BRZE shares. Stifel Nicolaus raised their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday. Oppenheimer reissued an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday. Wells Fargo & Company reduced their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. The Goldman Sachs Group reduced their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Piper Sandler raised their price objective on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.74.

Braze Price Performance

Shares of BRZE opened at $42.38 on Thursday. The firm has a market cap of $4.35 billion, a PE ratio of -37.18 and a beta of 1.15. The stock’s fifty day moving average price is $34.67 and its two-hundred day moving average price is $37.29. Braze has a 1 year low of $29.18 and a 1 year high of $61.53.

Braze Company Profile

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.