Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik Sells 2,262 Shares

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 2,262 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the completion of the transaction, the chief accounting officer now directly owns 74,361 shares of the company’s stock, valued at approximately $2,836,128.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Pankaj Malik also recently made the following trade(s):

• On Friday, June 21st, Pankaj Malik sold 2,618 shares of Braze stock. The stock was sold at an average price of $35.23, for a total value of $92,232.14.
• On Thursday, May 16th, Pankaj Malik sold 2,746 shares of Braze stock. The stock was sold at an average price of $41.76, for a total value of $114,672.96.

Braze Price Performance

Braze stock traded up $0.06 during mid-day trading on Tuesday, hitting $39.47. The company’s stock had a trading volume of 734,813 shares, compared to its average volume of 951,797. The firm’s 50 day moving average is $39.29 and its 200 day moving average is $47.35. The company has a market cap of $4.01 billion, a PE ratio of -30.94 and a beta of 1.06. Braze, Inc. has a 52-week low of $33.93 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.01. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The company had revenue of $135.46 million for the quarter, compared to analyst estimates of $131.56 million. As a group, analysts forecast that Braze, Inc. will post -1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Canaccord Genuity Group increased their price target on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. TD Cowen decreased their target price on Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, May 31st. UBS Group raised Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Thursday, March 21st. Citigroup raised their target price on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, Wells Fargo & Company decreased their target price on Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BRZE. Comerica Bank grew its holdings in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the last quarter. Advisors Asset Management Inc. raised its position in Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after purchasing an additional 290 shares during the last quarter. American International Group Inc. increased its stake in shares of Braze by 1.2% in the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after buying an additional 310 shares during the period. HighTower Advisors LLC increased its stake in shares of Braze by 6.6% in the 3rd quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock valued at $256,000 after buying an additional 335 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Braze by 2.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,831 shares of the company’s stock valued at $1,266,000 after buying an additional 588 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.