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

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 directly 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 document filed with the SEC, which is available through this link.

Braze Trading Up 1.9 %

Shares of NASDAQ BRZE opened at $38.71 on Friday. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -32.80 and a beta of 1.03. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The firm’s 50-day moving average price is $32.92 and its 200-day moving average price is $37.48.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. The company 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 firm’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.30) EPS. On average, equities analysts predict that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays decreased 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 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 note on Tuesday, September 24th. JMP Securities reiterated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th. DA Davidson decreased their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.47.

Hedge Funds Weigh In On Braze

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares during the last quarter. State Street Corp grew its holdings in Braze by 21.5% during the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after purchasing an additional 279,050 shares during the last quarter. Geode Capital Management LLC grew its holdings in Braze by 18.1% during the 3rd 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. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Braze by 69.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after purchasing an additional 612,400 shares during the last quarter. Finally, Fiera Capital Corp grew its stake in 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 acquiring an additional 7,570 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.