Jonathan Hyman Sells 6,930 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 6,930 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $238,738.50. Following the completion of the transaction, the chief technology officer now directly owns 163,020 shares of the company’s stock, valued at $5,616,039. The trade was a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Braze Trading Down 0.5 %

Shares of Braze stock traded down $0.18 on Wednesday, hitting $36.02. The stock had a trading volume of 934,946 shares, compared to its average volume of 1,029,993. The company’s 50 day moving average price is $32.83 and its 200 day moving average price is $37.49. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -30.53 and a beta of 1.03. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last released 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 net margin of 22.01% and a negative return on equity of 25.89%. The firm had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. Braze’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts predict that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Braze

Institutional investors have recently modified their holdings of the company. Stephens Investment Management Group LLC acquired a new stake in shares of Braze during the third quarter valued at $20,794,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Braze by 69.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after acquiring an additional 612,400 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of Braze during the second quarter worth $12,925,000. State Street Corp boosted its stake in Braze by 21.5% in the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after buying an additional 279,050 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Braze during the second quarter worth approximately $10,166,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BRZE has been the subject of several recent research reports. Macquarie began coverage on shares of Braze in a report on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. The Goldman Sachs Group lowered their price objective on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. DA Davidson decreased their target price on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, Oppenheimer reduced their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.47.

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.