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 that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $317,801.25. Following the completion of the sale, the insider now owns 190,738 shares of the company’s stock, valued at $6,570,924.10. This trade represents a 4.61 % 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 Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The stock was sold at an average price of $36.03, for a total value 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 value of $2,282,500.00.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $37.90 on Friday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -32.12 and a beta of 1.03. The business has a 50 day simple moving average of $32.92 and a 200 day simple moving average of $37.48. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53.

Braze (NASDAQ:BRZE) last announced 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 business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) EPS. On average, analysts predict that Braze, Inc. will post -1.02 EPS for the current year.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its holdings in Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares during the last quarter. Comerica Bank lifted its holdings in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the last quarter. Quarry LP acquired a new position in shares of Braze during the second quarter worth approximately $50,000. Advisors Asset Management Inc. lifted its holdings 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 buying an additional 290 shares during the last quarter. Finally, Canton Hathaway LLC lifted its holdings in shares of Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after buying an additional 1,187 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on BRZE. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th. UBS Group decreased their price target on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Loop Capital reissued a “buy” rating and issued a $75.00 price target on shares of Braze in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group decreased their price target on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.