Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 6,342 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 6,342 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total value of $228,502.26. Following the sale, the insider now directly owns 184,396 shares in the company, valued at approximately $6,643,787.88. This represents a 3.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Myles Kleeger also recently made the following trade(s):

• On Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The stock was sold at an average price of $34.45, for a total value of $317,801.25.
• On Monday, August 26th, Myles Kleeger sold 50,000 shares of Braze stock. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00.

Braze Trading Down 0.5 %

NASDAQ:BRZE opened at $36.02 on Thursday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The stock has a fifty day simple moving average of $32.86 and a 200-day simple moving average of $37.48.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. Braze’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.30) earnings per share. Research analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on BRZE shares. Barclays lowered their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Loop Capital reissued a “buy” rating and set a $75.00 price objective on shares of Braze in a report on Tuesday, September 24th. JMP Securities restated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut their price target on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $54.47.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently made changes to their positions in BRZE. Virtu Financial LLC purchased a new position in Braze during the 3rd quarter valued at about $253,000. Geode Capital Management LLC boosted its stake in shares of Braze by 18.1% during 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 Braze during the third quarter valued at approximately $1,617,000. Bullseye Asset Management LLC raised its stake in Braze by 14.3% in the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after buying an additional 3,100 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Braze by 148.1% during the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after buying an additional 64,093 shares during the period. 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.