Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 6,342 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 6,342 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $36.03, for a total transaction of $228,502.26. Following the completion of the sale, the insider now owns 184,396 shares of the company’s stock, valued at approximately $6,643,787.88. The trade was a 3.32 % decrease in their ownership of the stock. 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 Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The shares were sold at an average price of $34.45, for a total value of $317,801.25.
• On Monday, August 26th, Myles Kleeger sold 50,000 shares of Braze stock. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00.

Braze Price Performance

NASDAQ BRZE opened at $36.02 on Thursday. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The business’s fifty day moving average price is $32.86 and its 200-day moving average price is $37.48.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $141.32 million. During the same quarter last year, the firm posted ($0.30) earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. Research analysts anticipate that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in Braze during the third quarter valued at $253,000. Geode Capital Management LLC raised its stake in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after buying an additional 229,660 shares during the period. Vestcor Inc purchased a new position in shares of Braze during the 3rd quarter valued at about $1,617,000. Bullseye Asset Management LLC grew its stake in shares of Braze by 14.3% during the 3rd quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock valued at $801,000 after acquiring an additional 3,100 shares during the period. Finally, Barclays PLC increased its holdings in Braze by 148.1% in the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after acquiring an additional 64,093 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BRZE. Stifel Nicolaus began coverage on Braze in a research note on Tuesday, October 22nd. They set a “buy” rating and a $37.00 price objective for the company. Barclays dropped their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. The Goldman Sachs Group cut their price target on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. TD Cowen cut their target price on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Loop Capital reaffirmed a “buy” rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. 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 presently has an average rating of “Moderate Buy” and an average target price of $54.47.

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.