Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson Sells 17,933 Shares

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 17,933 shares of Braze stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $617,791.85. Following the completion of the sale, the chief executive officer now directly owns 582,816 shares in the company, valued at $20,078,011.20. This represents a 2.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Braze Stock Performance

Shares of BRZE stock opened at $37.90 on Friday. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -32.12 and a beta of 1.03. The company has a 50-day simple moving average of $32.92 and a 200 day simple moving average of $37.48.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BRZE shares. DA Davidson cut their target price on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. JPMorgan Chase & Co. cut their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Oppenheimer reduced their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. Piper Sandler lowered their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Macquarie began coverage on shares of Braze in a research note on Thursday, October 31st. They set a “neutral” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.47.

Hedge Funds Weigh In On Braze

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in Braze in the 2nd quarter valued at about $10,166,000. Vanguard Group Inc. grew its position in Braze by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after buying an additional 148,366 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in Braze during the 1st quarter worth $5,714,000. Mackenzie Financial Corp bought a new position in Braze during the 2nd quarter worth $971,000. Finally, Sei Investments Co. raised its holdings in Braze by 12.9% in the 1st quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock valued at $5,005,000 after acquiring an additional 12,878 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.