William Magnuson Sells 17,933 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 17,933 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $617,791.85. Following the completion of the sale, the chief executive officer now owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. This trade represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Braze Trading Up 5.2 %

Shares of BRZE opened at $37.90 on Friday. The stock has a market cap of $3.89 billion, a PE ratio of -32.12 and a beta of 1.03. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53. The stock has a 50 day simple moving average of $32.92 and a 200-day simple moving average of $37.48.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same period in the prior year, the company posted ($0.30) earnings per share. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, sell-side analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Comerica Bank lifted its position in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after acquiring an additional 283 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Braze by 17.8% during the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after purchasing an additional 290 shares in the last quarter. American International Group Inc. grew its stake in shares of Braze by 1.2% during the first quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after purchasing an additional 310 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BRZE has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Macquarie began coverage on shares of Braze in a report on Thursday, October 31st. They set a “neutral” rating and a $30.00 price target for the company. The Goldman Sachs Group dropped their price objective on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. decreased their target price on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Piper Sandler lowered their target price on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.