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

Braze, Inc. (NASDAQ:BRZE) saw unusually large options trading on Wednesday. Stock investors purchased 13,562 call options on the company. This represents an increase of 633% compared to the average daily volume of 1,851 call options.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BRZE. DA Davidson reaffirmed a “buy” rating and set a $40.00 price target on shares of Braze in a research note on Friday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price objective on shares of Braze in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating on shares of Braze in a report on Wednesday. Canaccord Genuity Group restated a “buy” rating and issued a $43.00 target price on shares of Braze in a report on Friday, September 5th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $68.00 price target on shares of Braze in a research note on Wednesday. Twenty-one equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Braze Stock Up 17.8%

Braze stock traded up $5.46 during midday trading on Wednesday, hitting $36.11. 2,133,994 shares of the stock were exchanged, compared to its average volume of 1,539,422. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -34.48 and a beta of 1.10. Braze has a 52-week low of $23.91 and a 52-week high of $48.33. The business’s 50-day moving average price is $27.99 and its 200-day moving average price is $28.63.

Insider Buying and Selling

In other Braze news, insider Astha Malik sold 14,322 shares of Braze stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total value of $381,538.08. Following the completion of the sale, the insider directly owned 219,338 shares in the company, valued at approximately $5,843,164.32. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jonathan Hyman sold 9,789 shares of Braze stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $26.64, for a total transaction of $260,778.96. Following the completion of the sale, the chief technology officer directly owned 195,317 shares of the company’s stock, valued at approximately $5,203,244.88. This trade represents a 4.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,557 shares of company stock valued at $1,856,089 over the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Braze

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in Braze by 1.7% in the 3rd quarter. Arizona State Retirement System now owns 21,749 shares of the company’s stock valued at $619,000 after buying an additional 363 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Braze by 2.4% during the second quarter. Dynamic Technology Lab Private Ltd now owns 19,621 shares of the company’s stock valued at $551,000 after buying an additional 461 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Braze by 34.3% in the third quarter. SBI Securities Co. Ltd. now owns 1,843 shares of the company’s stock worth $52,000 after buying an additional 471 shares in the last quarter. CWM LLC boosted its position in shares of Braze by 9.7% in the second quarter. CWM LLC now owns 6,009 shares of the company’s stock valued at $169,000 after acquiring an additional 532 shares during the period. Finally, Quarry LP grew its stake in Braze by 296.0% during the first quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after acquiring an additional 595 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

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.