Braze Sees Unusually High Options Volume (NASDAQ:BRZE)

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

Insider Transactions at Braze

In other Braze news, CTO Jonathan Hyman sold 6,930 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the transaction, the chief technology officer now directly owns 163,020 shares of the company’s stock, valued at $5,616,039. This trade represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the transaction, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,979 shares of company stock worth $3,688,914 in the last three months. 24.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Stephens Investment Management Group LLC bought a new position in Braze during the 3rd quarter worth $20,794,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Braze by 69.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after acquiring an additional 612,400 shares during the period. Granite Investment Partners LLC bought a new position in shares of Braze during the second quarter worth about $12,925,000. State Street Corp increased its holdings in shares of Braze by 21.5% in the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after acquiring an additional 279,050 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Braze in the 2nd quarter valued at about $10,166,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. DA Davidson decreased their price target on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday. Macquarie assumed coverage on shares of Braze in a research report on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. Wells Fargo & Company cut their price objective on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 26th. Finally, Piper Sandler raised their target price on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and an average price target of $53.63.

Braze Price Performance

Braze stock opened at $40.95 on Wednesday. The company has a market cap of $4.21 billion, a PE ratio of -35.92 and a beta of 1.15. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The company has a fifty day moving average price of $34.46 and a two-hundred day moving average price of $37.25.

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.