Insider Selling: Braze, Inc. (NASDAQ:BRZE) Director Sells $100,248.06 in Stock

Braze, Inc. (NASDAQ:BRZE) Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $42.46, for a total value of $100,248.06. Following the sale, the director now owns 6,101 shares in the company, valued at approximately $259,048.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Braze Stock Performance

Shares of Braze stock opened at $38.94 on Friday. The stock has a market capitalization of $3.93 billion, a PE ratio of -29.28 and a beta of 1.13. Braze, Inc. has a 52 week low of $25.76 and a 52 week high of $61.53. The stock has a 50 day moving average price of $50.39 and a two-hundred day moving average price of $50.70.

Braze (NASDAQ:BRZE) last announced its earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.02. The company had revenue of $130.96 million for the quarter, compared to analysts’ expectations of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. Research analysts forecast that Braze, Inc. will post -1.18 EPS for the current year.

Analyst Upgrades and Downgrades

BRZE has been the topic of a number of research analyst reports. Raymond James dropped their price target on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. DA Davidson reiterated a “buy” rating and set a $65.00 price objective on shares of Braze in a research report on Monday, March 25th. Piper Sandler reiterated an “overweight” rating and set a $66.00 price objective on shares of Braze in a research report on Friday, April 5th. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lowered their price objective on Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and an average target price of $64.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning boosted its position in Braze by 1.2% in the fourth quarter. Creative Planning now owns 21,827 shares of the company’s stock worth $1,160,000 after purchasing an additional 249 shares during the last quarter. Voya Investment Management LLC boosted its position in Braze by 1.5% in the fourth quarter. Voya Investment Management LLC now owns 20,814 shares of the company’s stock worth $1,106,000 after purchasing an additional 299 shares during the last quarter. HighTower Advisors LLC boosted its position in Braze by 6.6% in the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock worth $256,000 after purchasing an additional 335 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Braze by 4.3% in the fourth quarter. Legal & General Group Plc now owns 8,303 shares of the company’s stock valued at $227,000 after buying an additional 340 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Braze by 4.6% in the third quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock valued at $552,000 after buying an additional 524 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.