Braze, Inc. (NASDAQ:BRZE) Director Fernando Machado Sells 1,377 Shares

Braze, Inc. (NASDAQ:BRZE) Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $30.71 on Friday. The business’s 50-day simple moving average is $37.64 and its 200-day simple moving average is $39.36. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -23.99 and a beta of 1.03.

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. 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 quarter last year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, equities research analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Oracle Alpha Inc. acquired a new stake in shares of Braze in the fourth quarter valued at about $476,000. Occudo Quantitative Strategies LP bought a new stake in Braze during the 4th quarter valued at approximately $5,397,000. Neo Ivy Capital Management acquired a new stake in Braze in the 4th quarter valued at approximately $40,000. Goldman Sachs Group Inc. increased its position in Braze by 21.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock worth $19,973,000 after buying an additional 65,973 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Braze by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after buying an additional 480,179 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays reduced their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. DA Davidson reduced their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $48.00 to $56.00 in a report on Wednesday, July 10th. Piper Sandler cut their target price on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. Eighteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $58.53.

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.