Braze, Inc. (NASDAQ:BRZE – Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 4,460,000 shares, a decrease of 11.0% from the September 30th total of 5,010,000 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 3.7 days. Approximately 6.2% of the shares of the company are sold short.
Insider Buying and Selling
In related news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the transaction, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Isabelle Winkles sold 8,207 shares of Braze stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $339,523.59. Following the sale, the chief financial officer now owns 234,420 shares of the company’s stock, valued at approximately $9,697,955.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,658 shares of company stock valued at $7,980,396 over the last ninety days. Corporate insiders own 24.03% of the company’s stock.
Institutional Trading of Braze
Several institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. M&G Plc acquired a new stake in shares of Braze during the first quarter valued at approximately $6,724,000. Point72 Asset Management L.P. purchased a new position in Braze in the second quarter valued at about $10,166,000. Vanguard Group Inc. increased its position in Braze by 2.6% in 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. Silvercrest Asset Management Group LLC bought a new position in Braze during the first quarter valued at approximately $5,714,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Braze during the 2nd quarter worth $971,000. 90.47% of the stock is owned by institutional investors and hedge funds.
Braze Price Performance
Braze (NASDAQ:BRZE – Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.30) earnings per share. Equities research analysts predict that Braze will post -1.02 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Macquarie initiated coverage on Braze in a research note on Thursday. They issued a “neutral” rating and a $30.00 target price for the company. DA Davidson cut their price objective on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Barclays lowered their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. Finally, TD Cowen lowered their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.
View Our Latest Stock Report on BRZE
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.
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