Braze, Inc. (NASDAQ:BRZE) Short Rate Up 41.2% in June
Braze, Inc. (NASDAQ:BRZE – Get Rating) was the target of a significant spike in short interest in June. On June 15th, there was short interest totaling 1,850,000 shares, a 41.2% increase from the May 31st total of 1,310,000 shares. Based on an average daily volume of 896,200 shares, the days-to-cover ratio is currently 2.1 days.
BRZE has been the subject of a number of analyst reports. JMP Securities lowered its price target on Braze shares from $75. Barclays lowered its price target on Braze shares to $50.00 from $75.00 and gave the stock an overweight rating in a research report on Wednesday, June. . Cowen lowered its price target on Braze shares from $60. Cowen lowered its price target on Braze shares from $60. Finally, Oppenheimer lowered its price target on Braze shares from $60. Fifteen equity analysts have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “buy” and a consensus price target of $52.79.
In other news, CFO Isabelle Winkles sold 65,000 shares of the stock in a transaction that took place on Monday, April 4th. The shares sold at an average price of $41.20 for a total value of $2,678,000.00. Following the sale, the Chief Financial Officer now directly owns 20,491 shares of the company, valued at $844,229.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In addition, CAO Pankaj Malik sold 5,943 shares of the stock in a transaction that took place on Tuesday, May 17th. The shares sold at an average price of $31.53 for a total transaction of $187,382.79. Upon completion of the sale, the Chief Accounting Officer now owns 80,360 shares of the Company, valued at $2,533,750.80. The disclosure for this sale can be found here. During the most recent quarter, insiders bought 308,867 shares of the company’s shares for $11,554,072 and sold 144,443 shares for $5,409,148. 32.14% of the shares are owned by company insiders.
Hedge funds recently changed their holdings in the company. Bank of America Corp DE increased its holdings in Braze shares by 50,225.0% during the first quarter. Bank of America Corp DE now owns 2,013 shares of the company, valued at $83,000, having purchased an additional 2,009 shares during the period. WINTON GROUP Ltd acquired a new interest in Braze for $206,000 during the fourth quarter. Renaissance Capital LLC acquired a new interest in Braze valued at $277,000 during the fourth quarter. Lloyd Park LLC acquired a new interest in Braze for $418,000 during the fourth quarter. Finally, Laurion Capital Management LP acquired a new stake in Braze valued at $548,000 during the fourth quarter. 23.64% of the shares are currently owned by institutional investors and hedge funds.
Shares of BRZE stock opened at $39.10 on Friday. The company’s 50-day simple moving average is $35.14 and its 200-day simple moving average is $45.89. Braze has a 52-week low of $27.09 and a 52-week high of $98.78.
Braze (NASDAQ:BRZE – Get Rating) last reported its earnings results on Monday, June 13th. The company reported ($0.19) EPS for the quarter, beating analyst consensus estimates of ($0.21) by $0.02. On average, equity analysts expect Braze to report year-to-date earnings per share of -1.5%.
About Braze (received rating)
Braze, Inc operates a customer engagement platform that enables interactions between consumers and brands worldwide. It offers data collection products such as Braze software development kits that automatically manage data collection and delivery of mobile and web notifications, in-app/in-browser interstitial messages, and content maps, and can be integrated with a range of digital interfaces and frameworks for the Application development; REST API that can be used to import or export data or trigger workflows between Braze and brands’ existing technology stacks; and partner cohort synchronization, which allows brands to synchronize user cohorts from partners.
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