Insider Selling: Braze, Inc. (NASDAQ:BRZE) CAO Sells 3,432 Shares of Stock

by · The Markets Daily

Braze, Inc. (NASDAQ:BRZE – Get Free Report) CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction on 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 approximately $2,311,422.75. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Braze Stock Down 0.5 %

Shares of BRZE stock traded down $0.18 on Wednesday, reaching $36.02. 934,946 shares of the stock were exchanged, 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 stock has a market cap of $3.70 billion, a P/E ratio of -30.53 and a beta of 1.03. The firm has a 50 day moving average of $32.83 and a two-hundred day moving average of $37.49.

Braze (NASDAQ:BRZE – Get Free Report) last posted its earnings results 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 during 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 company’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. On average, equities research analysts predict that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Trading of Braze

Several large investors have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of Braze in the second quarter worth $10,166,000. Vanguard Group Inc. boosted its holdings in shares of Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after buying an additional 148,366 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of Braze during the 1st quarter valued at about $5,714,000. Mackenzie Financial Corp acquired a new stake in Braze during the second quarter worth about $971,000. Finally, Sei Investments Co. grew its stake in Braze by 12.9% during the 1st quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock worth $5,005,000 after buying an additional 12,878 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Loop Capital restated a “buy” rating and set a $75.00 price target on shares of Braze in a research note on Tuesday, September 24th. UBS Group reduced their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Barclays dropped their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. TD Cowen lowered their price objective on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group cut 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 investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.47.

Read Our Latest Report on BRZE

About Braze

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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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