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

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,432 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Braze Price Performance

Shares of NASDAQ BRZE opened at $36.02 on Thursday. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The business has a 50-day moving average price of $32.86 and a 200 day moving average price of $37.48.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to analyst estimates 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 period last year, the firm posted ($0.30) earnings per share. As a group, sell-side analysts expect that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd grew its holdings in shares of 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 purchased a new position in shares of Braze in the 2nd quarter valued at approximately $50,000. Comerica Bank increased its holdings 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 period. KBC Group NV raised its stake in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Piper Sandler reduced their target price on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. 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. Stifel Nicolaus began coverage on Braze in a research note on Tuesday, October 22nd. They set a “buy” rating and a $37.00 price target on the stock. Finally, TD Cowen reduced their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.