Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik Sells 3,432 Shares

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the completion of the transaction, the chief accounting officer now owns 67,095 shares in the company, valued at $2,311,422.75. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Braze Trading Up 1.9 %

NASDAQ BRZE opened at $38.71 on Friday. The company has a fifty day simple moving average of $32.92 and a two-hundred day simple moving average of $37.48. The stock has a market cap of $3.98 billion, a P/E ratio of -32.80 and a beta of 1.03. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its holdings in shares of Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares during the last quarter. Quarry LP purchased a new position in shares of Braze during the second quarter worth $50,000. Comerica Bank raised its holdings in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the last quarter. KBC Group NV raised its holdings in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. JMP Securities reiterated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Piper Sandler dropped their price objective 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. The Goldman Sachs Group dropped their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Braze in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.47.

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.