Roger H. Lee Sells 56,830 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the sale, the insider now owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Braze Trading Down 3.0 %

Shares of BRZE stock traded down $0.94 on Wednesday, hitting $30.69. The stock had a trading volume of 1,141,112 shares, compared to its average volume of 1,027,836. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The firm has a market cap of $3.12 billion, a P/E ratio of -24.71 and a beta of 1.03. The company has a fifty day moving average price of $37.42 and a two-hundred day moving average price of $39.03.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $141.32 million. During the same period in the prior year, the business earned ($0.30) EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, analysts expect that Braze, Inc. will post -1.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BRZE shares. UBS Group dropped their price target on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Piper Sandler reduced their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Barclays dropped their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, 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. Eighteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $58.53.

Institutional Trading of Braze

A number of institutional investors have recently made changes to their positions in BRZE. Covestor Ltd increased its holdings in Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after buying an additional 738 shares during the last quarter. Quarry LP bought a new position in shares of Braze in the second quarter valued at about $50,000. Comerica Bank grew its position in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the last quarter. Canton Hathaway LLC increased its stake in shares of Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after purchasing an additional 1,187 shares during the period. Finally, RiverPark Advisors LLC lifted its holdings in shares of Braze by 360.9% during the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after buying an additional 1,411 shares in the last quarter. 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.