Braze (NASDAQ:BRZE) CTO Jonathan Hyman Sells 42,000 Shares

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 42,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $32.47, for a total transaction of $1,363,740.00. Following the completion of the transaction, the chief technology officer owned 1,143,219 shares in the company, valued at approximately $37,120,320.93. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Hyman also recently made the following trade(s):

• On Monday, August 24th, Jonathan Hyman sold 10,000 shares of Braze stock. The shares were sold at an average price of $31.04, for a total transaction of $310,400.00.
• On Wednesday, August 19th, Jonathan Hyman sold 9,413 shares of Braze stock. The shares were sold at an average price of $29.99, for a total value of $282,295.87.
• On Thursday, August 13th, Jonathan Hyman sold 35,000 shares of Braze stock. The stock was sold at an average price of $30.03, for a total value of $1,051,050.00.
• On Monday, August 10th, Jonathan Hyman sold 10,148 shares of Braze stock. The stock was sold at an average price of $27.27, for a total value of $276,735.96.
• On Friday, August 7th, Jonathan Hyman sold 17,895 shares of Braze stock. The shares were sold at an average price of $27.03, for a total value of $483,701.85.

Braze Price Performance

Shares of BRZE stock traded up $0.44 on Friday, hitting $34.53. The stock had a trading volume of 1,868,854 shares, compared to its average volume of 2,951,800. The company’s 50 day moving average price is $25.56 and its 200-day moving average price is $22.69. Braze, Inc. has a 1 year low of $15.26 and a 1 year high of $37.33. The firm has a market capitalization of $3.89 billion, a P/E ratio of -30.83 and a beta of 0.83.

Braze (NASDAQ:BRZE) last announced its earnings results on Wednesday, May 27th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $205.19 million. Braze had a negative return on equity of 17.52% and a negative net margin of 15.51%.Braze’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. On average, equities analysts forecast that Braze, Inc. will post -0.78 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. The Goldman Sachs Group set a $34.00 price objective on shares of Braze and gave the company a “buy” rating in a research note on Wednesday, June 24th. Oppenheimer increased their target price on shares of Braze from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho decreased their price target on shares of Braze from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, May 28th. UBS Group restated an “outperform” rating on shares of Braze in a research note on Thursday, May 28th. Finally, DA Davidson reaffirmed a “buy” rating and set a $33.00 price objective on shares of Braze in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.76.

Institutional Trading of Braze

A number of large investors have recently made changes to their positions in BRZE. Vanguard Group Inc. lifted its stake in Braze by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock worth $337,793,000 after acquiring an additional 892,635 shares during the last quarter. Battery Management CORP. grew its holdings in Braze by 70.2% during the 3rd quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock worth $68,967,000 after acquiring an additional 1,000,000 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Braze by 28.8% in the 2nd quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock valued at $65,197,000 after purchasing an additional 518,103 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Braze by 0.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,187,275 shares of the company’s stock valued at $75,002,000 after purchasing an additional 9,322 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Braze by 592.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,105,024 shares of the company’s stock valued at $72,181,000 after purchasing an additional 1,801,019 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

About Braze

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.