Braze (NASDAQ:BRZE) Stock Price Down 3.6% After Insider Selling

Braze, Inc. (NASDAQ:BRZE) shares fell 3.6% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $30.01 and last traded at $30.50. 152,461 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,022,892 shares. The stock had previously closed at $31.63.

Specifically, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $48.00 to $56.00 in a report on Wednesday, July 10th. DA Davidson reduced their price objective on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. UBS Group lowered their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Loop Capital reaffirmed a “buy” rating and set a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $58.53.

Braze Stock Performance

The firm’s fifty day moving average is $37.10 and its two-hundred day moving average is $38.91. The company has a market cap of $3.07 billion, a P/E ratio of -23.64 and a beta of 1.03.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period last year, the company posted ($0.30) earnings per share. Braze’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities research analysts expect that Braze, Inc. will post -1.02 EPS for the current year.

Institutional Trading of Braze

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position 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 worth $261,146,000 after buying an additional 148,366 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Braze by 6.6% during the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after purchasing an additional 128,645 shares in the last quarter. Fiera Capital Corp boosted its position in shares of Braze by 1.0% in the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after purchasing an additional 7,570 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Braze by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock worth $18,554,000 after buying an additional 73,764 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Braze by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 391,977 shares of the company’s stock valued at $15,224,000 after buying an additional 38,504 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

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.