Myles Kleeger Sells 6,342 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 6,342 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $36.03, for a total value of $228,502.26. Following the completion of the sale, the insider now owns 184,396 shares in the company, valued at approximately $6,643,787.88. The trade was a 3.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Myles Kleeger also recently made the following trade(s):

• On Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The shares were sold at an average price of $34.45, for a total value of $317,801.25.
• On Monday, August 26th, Myles Kleeger sold 50,000 shares of Braze stock. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00.

Braze Stock Performance

Shares of BRZE opened at $37.90 on Friday. Braze, Inc. has a one year low of $29.18 and a one year high of $61.53. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -32.12 and a beta of 1.03. The stock has a 50 day moving average price of $32.92 and a 200 day moving average price of $37.48.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results 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 return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the previous year, the business earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, analysts predict that Braze, Inc. will post -1.02 earnings per share for the current year.

Institutional Trading of Braze

Several large investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Braze during the third quarter worth $253,000. Geode Capital Management LLC boosted its stake in Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after buying an additional 229,660 shares during the last quarter. Vestcor Inc acquired a new position in Braze during the third quarter worth $1,617,000. Bullseye Asset Management LLC boosted its stake in Braze by 14.3% during the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after buying an additional 3,100 shares during the last quarter. Finally, Barclays PLC boosted its stake in Braze by 148.1% during the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after buying an additional 64,093 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BRZE. Barclays dropped their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Loop Capital reaffirmed a “buy” rating and set a $75.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Oppenheimer lowered their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price target on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Piper Sandler lowered their price target on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and a consensus price target of $54.47.

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.