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 company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total value of $228,502.26. Following the completion of the transaction, the insider now directly owns 184,396 shares in the company, valued at approximately $6,643,787.88. This trade represents a 3.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

Braze stock opened at $37.90 on Friday. The stock has a fifty day moving average of $32.92 and a two-hundred day moving average of $37.48. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -32.12 and a beta of 1.03. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (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 business had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter last year, the firm earned ($0.30) earnings per share. The business’s revenue was up 26.4% on a year-over-year basis. On average, analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BRZE has been the topic of several research analyst reports. The Goldman Sachs Group cut their price objective on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Braze in a report on Tuesday, September 24th. JMP Securities restated a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. 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. Finally, UBS Group dropped their price objective on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and an average price target of $54.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake 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 purchasing an additional 738 shares in the last quarter. Quarry LP bought a new stake in Braze in the second quarter valued at about $50,000. Comerica Bank increased its holdings in 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 buying an additional 276 shares during the last quarter. KBC Group NV grew its holdings in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares during the last quarter. Finally, Amalgamated Bank grew 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 valued at $73,000 after purchasing an additional 358 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.