Braze, Inc. (NASDAQ:BRZE) Insider Sells $317,801.25 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 9,225 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $317,801.25. Following the completion of the sale, the insider now owns 190,738 shares in the company, valued at $6,570,924.10. This represents a 4.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Myles Kleeger also recently made the following trade(s):

• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The shares were sold at an average price of $36.03, for a total transaction of $228,502.26.
• On Monday, August 26th, Myles Kleeger sold 50,000 shares of Braze stock. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00.

Braze Trading Up 1.9 %

NASDAQ:BRZE opened at $38.71 on Friday. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53. The business’s 50-day moving average price is $32.92 and its two-hundred day moving average price is $37.48. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -32.80 and a beta of 1.03.

Braze (NASDAQ:BRZE) last released 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 return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. The company’s quarterly revenue was up 26.4% on a year-over-year basis. Sell-side analysts predict that Braze, Inc. will post -1.02 earnings per share for the current year.

Institutional Investors Weigh In On Braze

Large investors have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of Braze in the second quarter worth about $10,166,000. Vanguard Group Inc. increased its holdings in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after acquiring an additional 148,366 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of Braze in the first quarter worth about $5,714,000. Mackenzie Financial Corp bought a new stake in shares of Braze in the second quarter worth about $971,000. Finally, Sei Investments Co. increased its holdings in shares of Braze by 12.9% in the first quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock worth $5,005,000 after acquiring an additional 12,878 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BRZE. Oppenheimer reduced their target price on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Piper Sandler reduced their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Macquarie assumed coverage on Braze in a research note on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price objective on the stock. TD Cowen reduced their price objective 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, Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Braze in a research note 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, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $54.47.

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.