Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 6,377 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 6,377 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $43.58, for a total value of $277,909.66. Following the sale, the insider now directly owns 199,963 shares of the company’s stock, valued at $8,714,387.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Myles Kleeger also recently made the following trade(s):

• On Friday, August 16th, Myles Kleeger sold 9,178 shares of Braze stock. The stock was sold at an average price of $41.37, for a total value of $379,693.86.

Braze Stock Down 0.2 %

Braze stock traded down $0.08 during trading on Tuesday, hitting $43.63. The stock had a trading volume of 418,542 shares, compared to its average volume of 930,960. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -34.09 and a beta of 1.07. The stock’s 50 day moving average is $38.89 and its two-hundred day moving average is $44.26. Braze, Inc. has a 1 year low of $33.93 and a 1 year high of $61.53.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. TD Cowen decreased their price objective on Braze from $65.00 to $52.00 and set a “buy” rating for the company in a report on Friday, May 31st. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Braze in a research note on Monday, June 17th. Piper Sandler cut their target price on Braze from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $60.00 target price on shares of Braze in a research note on Wednesday, June 12th. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Braze currently has an average rating of “Buy” and a consensus price target of $61.13.

Institutional Investors Weigh In On Braze

Several institutional investors have recently made changes to their positions in BRZE. 1832 Asset Management L.P. lifted its position in shares of Braze by 537.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after acquiring an additional 1,287,500 shares in the last quarter. Norges Bank purchased a new stake in shares of Braze during the fourth quarter worth $37,584,000. Fiera Capital Corp purchased a new stake in shares of Braze during the fourth quarter worth $31,153,000. Vanguard Group Inc. increased its holdings in shares of Braze by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after purchasing an additional 480,179 shares during the period. Finally, Granite Investment Partners LLC bought a new position in shares of Braze in the second quarter worth $12,925,000. Hedge funds and other institutional investors 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.