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

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 17,933 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $617,791.85. Following the completion of the sale, the chief executive officer now owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. This trade represents a 2.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Braze Stock Up 1.9 %

Shares of Braze stock opened at $38.71 on Friday. The business has a fifty day simple moving average of $32.92 and a 200 day simple moving average of $37.48. The stock has a market cap of $3.98 billion, a PE ratio of -32.80 and a beta of 1.03. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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%. Braze’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) EPS. Analysts expect that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Braze

Hedge funds have recently made changes to their positions in the business. Covestor Ltd raised its stake in shares of Braze by 401.1% during the 1st 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 shares of Braze during the second quarter worth approximately $50,000. Comerica Bank grew its holdings 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 buying an additional 276 shares in the last quarter. KBC Group NV boosted its position in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BRZE. Piper Sandler cut their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Barclays reduced their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. Macquarie began coverage on Braze in a report on Thursday, October 31st. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, DA Davidson reduced their target price on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.