Braze, Inc. (NASDAQ:BRZE) CAO Sells $118,232.40 in Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,432 shares of the stock in a transaction dated Monday, November 18th. The shares were 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 of the company’s stock, valued at $2,311,422.75. This represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Braze Price Performance

NASDAQ BRZE traded down $0.18 on Wednesday, reaching $36.02. The stock had a trading volume of 934,946 shares, compared to its average volume of 1,029,993. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The firm has a fifty day moving average of $32.83 and a two-hundred day moving average of $37.49. The company has a market cap of $3.70 billion, a P/E ratio of -30.53 and a beta of 1.03.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data 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 firm had revenue of $145.50 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.30) earnings per share. Research analysts predict that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BRZE shares. Piper Sandler decreased their target price on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. UBS Group dropped their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. TD Cowen decreased their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. The Goldman Sachs Group cut their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus started coverage on Braze in a report on Tuesday, October 22nd. They set a “buy” rating and a $37.00 target price for the company. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.47.

Institutional Trading of Braze

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Braze in the 3rd quarter valued at $253,000. Geode Capital Management LLC raised its position in Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after purchasing an additional 229,660 shares during the last quarter. Vestcor Inc bought a new stake in shares of Braze during the third quarter worth about $1,617,000. Bullseye Asset Management LLC grew its holdings in shares of Braze by 14.3% during the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Barclays PLC increased its position in Braze by 148.1% in the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after acquiring an additional 64,093 shares during the period. Institutional investors and hedge funds 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.