Braze, Inc. (NASDAQ:BRZE) CEO Sells $617,791.85 in Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 17,933 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $617,791.85. Following the transaction, the chief executive officer now owns 582,816 shares in the company, valued at approximately $20,078,011.20. This trade represents a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Braze Stock Performance

Shares of Braze stock opened at $36.02 on Thursday. The business has a 50-day moving average price of $32.86 and a 200 day moving average price of $37.48. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53.

Braze (NASDAQ:BRZE) last announced its earnings results 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 firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the firm posted ($0.30) EPS. The business’s revenue was up 26.4% on a year-over-year basis. As a group, equities analysts expect that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Braze

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Braze in the 1st quarter valued at about $114,000. Sei Investments Co. raised its position in shares of Braze by 12.9% in the first quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock valued at $5,005,000 after buying an additional 12,878 shares during the last quarter. US Bancorp DE raised its position in shares of Braze by 59.6% in the first quarter. US Bancorp DE now owns 18,720 shares of the company’s stock valued at $829,000 after buying an additional 6,991 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Braze by 15.2% in the first quarter. ProShare Advisors LLC now owns 13,999 shares of the company’s stock worth $620,000 after buying an additional 1,849 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Braze by 37.2% during the first quarter. Blair William & Co. IL now owns 12,645 shares of the company’s stock worth $560,000 after acquiring an additional 3,431 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BRZE. JPMorgan Chase & Co. dropped their price target on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. DA Davidson dropped their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Braze in a report on Tuesday, September 24th. Piper Sandler dropped their price objective on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, The Goldman Sachs Group reduced their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

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.