Insider Selling: Braze, Inc. (NASDAQ:BRZE) CEO Sells $617,791.85 in Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 17,933 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $617,791.85. Following the sale, the chief executive officer now directly owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Braze Price Performance

NASDAQ:BRZE opened at $38.71 on Friday. The firm has a market capitalization of $3.98 billion, a P/E ratio of -32.80 and a beta of 1.03. The business has a 50 day simple moving average of $32.92 and a 200 day simple moving average of $37.48. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.30) earnings per share. Research analysts anticipate that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently made changes to their positions in BRZE. Comerica Bank increased its position in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares during the period. Blair William & Co. IL increased its holdings in shares of Braze by 2.2% during the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after purchasing an additional 283 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Braze by 17.8% during the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after purchasing an additional 290 shares in the last quarter. American International Group Inc. lifted its holdings in Braze by 1.2% in the first quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after purchasing an additional 310 shares during the period. Finally, Amalgamated Bank grew its position in Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BRZE. UBS Group lowered their target price on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. DA Davidson dropped their price objective on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Loop Capital reiterated a “buy” rating and set a $75.00 target price on shares of Braze in a research note on Tuesday, September 24th. Macquarie initiated coverage on shares of Braze in a report on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.