Braze, Inc. (NASDAQ:BRZE) Insider Sells $329,701.32 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 9,189 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $329,701.32. Following the completion of the transaction, the insider now owns 159,693 shares of the company’s stock, valued at $5,729,784.84. The trade was a 5.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 20th, Myles Kleeger sold 8,365 shares of Braze stock. The stock was sold at an average price of $40.12, for a total value of $335,603.80.

Braze Stock Down 0.4%

Shares of BRZE stock opened at $34.73 on Friday. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33. The stock’s fifty day simple moving average is $33.08 and its 200 day simple moving average is $37.95. The firm has a market capitalization of $3.63 billion, a P/E ratio of -30.46 and a beta of 1.15.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same period last year, the firm posted ($0.04) earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities research analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in shares of Braze during the fourth quarter worth $498,000. Thrivent Financial for Lutherans bought a new position in Braze during the 4th quarter worth $708,000. Barclays PLC raised its position in Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after purchasing an additional 64,093 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Braze by 27.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company’s stock worth $374,000 after buying an additional 1,938 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Braze in the 4th quarter valued at about $549,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. DA Davidson lowered their price target on Braze from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Canaccord Genuity Group boosted their target price on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Piper Sandler dropped their target price on shares of Braze from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Citigroup raised their price objective on Braze from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Finally, Raymond James boosted their target price on Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $50.10.

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.