Braze, Inc. (NASDAQ:BRZE) Insider Sells $228,502.26 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 6,342 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $36.03, for a total value of $228,502.26. Following the transaction, the insider now owns 184,396 shares of the company’s stock, valued at approximately $6,643,787.88. This represents a 3.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The stock was 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 Trading Up 1.9 %

Shares of BRZE stock opened at $38.71 on Friday. The business’s 50 day moving average is $32.92 and its two-hundred day moving average is $37.48. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The company has a market capitalization of $3.98 billion, a P/E ratio of -32.80 and a beta of 1.03.

Braze (NASDAQ:BRZE) last announced 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 company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. During the same period last year, the business posted ($0.30) EPS. The company’s revenue was up 26.4% on a year-over-year basis. As a group, equities analysts predict that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus assumed coverage on Braze in a report on Tuesday, October 22nd. They set a “buy” rating and a $37.00 target price for the company. DA Davidson lowered their target price on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Barclays lowered their target price on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. The Goldman Sachs Group lowered their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, TD Cowen lowered their target price on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and a consensus target price of $54.47.

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd raised its holdings in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the last quarter. Quarry LP acquired a new position in Braze in the second quarter valued at $50,000. Comerica Bank increased its stake in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the last quarter. KBC Group NV increased its stake in Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares during the last quarter. Finally, Amalgamated Bank increased its stake in 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 during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

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.