Braze, Inc. (NASDAQ:BRZE) CAO Sells $92,232.14 in Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 2,618 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $35.23, for a total transaction of $92,232.14. Following the completion of the sale, the chief accounting officer now directly owns 76,623 shares of the company’s stock, valued at $2,699,428.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pankaj Malik also recently made the following trade(s):

• On Thursday, May 16th, Pankaj Malik sold 2,746 shares of Braze stock. The stock was sold at an average price of $41.76, for a total value of $114,672.96.

Braze Trading Up 6.0 %

Shares of NASDAQ BRZE opened at $38.06 on Friday. The company’s 50-day moving average price is $39.30 and its 200 day moving average price is $47.66. Braze, Inc. has a 52 week low of $33.93 and a 52 week high of $61.53. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of -29.73 and a beta of 1.06.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on BRZE shares. William Blair reissued an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a report on Monday, June 17th. Wells Fargo & Company lowered their target price on shares of Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. TD Cowen cut their price target on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Braze in a report on Wednesday, June 12th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.88.

Hedge Funds Weigh In On Braze

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after purchasing an additional 148,366 shares during the period. Morgan Stanley lifted its position in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after buying an additional 899,894 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Braze by 6.6% in the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after acquiring an additional 128,645 shares during the last quarter. 1832 Asset Management L.P. raised its stake in 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 purchasing an additional 1,287,500 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Braze by 167.5% in the 3rd quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock valued at $60,467,000 after purchasing an additional 810,295 shares during the last quarter. Institutional investors and hedge funds 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.