Braze, Inc. (NASDAQ:BRZE) Insider Sells $317,801.25 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 9,225 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $317,801.25. Following the transaction, the insider now owns 190,738 shares of the company’s stock, valued at approximately $6,570,924.10. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The stock was sold at an average price of $36.03, for a total value of $228,502.26.
• 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 Stock Up 1.9 %

BRZE opened at $38.71 on Friday. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -32.80 and a beta of 1.03. The business has a 50 day moving average of $32.92 and a 200-day moving average of $37.48.

Braze (NASDAQ:BRZE) last released its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $141.32 million. During the same period last year, the firm posted ($0.30) earnings per share. The business’s revenue was up 26.4% on a year-over-year basis. As a group, analysts expect that Braze, Inc. will post -1.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BRZE. TD Cowen decreased their price objective on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Oppenheimer reduced their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Piper Sandler reduced their price target on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, DA Davidson reduced their price target on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Braze presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

Institutional Trading of Braze

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after purchasing an additional 148,366 shares during the last quarter. State Street Corp lifted its holdings in Braze by 21.5% during the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after purchasing an additional 279,050 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after purchasing an additional 229,660 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Braze by 69.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after purchasing an additional 612,400 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in Braze by 1.0% during the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after purchasing an additional 7,570 shares during the last quarter. 90.47% of the stock is 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.