Insider Selling: Braze, Inc. (NASDAQ:BRZE) General Counsel Sells 12,000 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) General Counsel Susan Wiseman sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $42.48, for a total transaction of $509,760.00. Following the completion of the sale, the general counsel now directly owns 214,340 shares of the company’s stock, valued at $9,105,163.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Susan Wiseman also recently made the following trade(s):

• On Monday, July 29th, Susan Wiseman sold 7,500 shares of Braze stock. The stock was sold at an average price of $43.04, for a total transaction of $322,800.00.
• On Thursday, July 25th, Susan Wiseman sold 7,079 shares of Braze stock. The stock was sold at an average price of $42.18, for a total transaction of $298,592.22.
• On Wednesday, July 17th, Susan Wiseman sold 5,496 shares of Braze stock. The stock was sold at an average price of $42.00, for a total transaction of $230,832.00.
• On Thursday, July 11th, Susan Wiseman sold 3,558 shares of Braze stock. The stock was sold at an average price of $38.41, for a total transaction of $136,662.78.
• On Thursday, May 16th, Susan Wiseman sold 3,833 shares of Braze stock. The stock was sold at an average price of $41.76, for a total transaction of $160,066.08.

Braze Price Performance

NASDAQ:BRZE traded down $2.26 during midday trading on Monday, hitting $36.98. The company’s stock had a trading volume of 1,261,906 shares, compared to its average volume of 953,159. Braze, Inc. has a fifty-two week low of $33.93 and a fifty-two week high of $61.53. The firm’s 50 day moving average is $38.49 and its 200-day moving average is $45.23. The firm has a market cap of $3.76 billion, a P/E ratio of -28.89 and a beta of 1.07.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.01. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. The company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. As a group, analysts forecast that Braze, Inc. will post -1.21 EPS for the current year.

Institutional Investors Weigh In On Braze

Hedge funds have recently bought and sold shares of the stock. AGF Management Ltd. purchased a new stake in Braze in the 4th quarter worth approximately $3,282,000. M&G Plc acquired a new stake in Braze in the 1st quarter valued at $6,724,000. New York State Common Retirement Fund grew its stake in Braze by 814.1% in the 4th quarter. New York State Common Retirement Fund now owns 178,514 shares of the company’s stock valued at $9,484,000 after acquiring an additional 158,986 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Braze in the 4th quarter valued at $5,397,000. Finally, Vanguard Group Inc. grew its stake in Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after acquiring an additional 148,366 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BRZE. Wells Fargo & Company reduced their target price on shares of Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Canaccord Genuity Group boosted their target price on shares of Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Raymond James reduced their target price on shares of Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Finally, Piper Sandler cut their price objective on shares of Braze from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $61.13.

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.