Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik Sells 3,432 Shares

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,432 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the transaction, the chief accounting officer now directly owns 67,095 shares of the company’s stock, valued at approximately $2,311,422.75. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Braze Trading Down 0.5 %

NASDAQ BRZE opened at $36.02 on Thursday. Braze, Inc. has a one year low of $29.18 and a one year high of $61.53. The stock has a 50 day moving average price of $32.86 and a 200-day moving average price of $37.48.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping 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 company had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. Braze’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts predict that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BRZE has been the subject of several analyst reports. UBS Group reduced their price target on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. The Goldman Sachs Group decreased their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Stifel Nicolaus assumed coverage on Braze in a research note on Tuesday, October 22nd. They set a “buy” rating and a $37.00 target price on the stock. Barclays reduced their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd boosted its holdings in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the period. Quarry LP purchased a new position in Braze in the second quarter valued at about $50,000. Comerica Bank raised its stake in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares in the last quarter. KBC Group NV boosted its position in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.