Insider Selling: Braze, Inc. (NASDAQ:BRZE) Insider Sells 13,460 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Astha Malik sold 13,460 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $482,944.80. Following the transaction, the insider now directly owns 258,395 shares in the company, valued at $9,271,212.60. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Braze Stock Performance

NASDAQ:BRZE opened at $34.73 on Friday. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -30.46 and a beta of 1.15. Braze, Inc. has a 52 week low of $27.45 and a 52 week high of $48.33. The firm has a 50-day moving average price of $33.08 and a two-hundred day moving average price of $37.95.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the business posted ($0.04) EPS. Braze’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Braze

Several large investors have recently modified their holdings of BRZE. Tower Research Capital LLC TRC increased its stake in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 405 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after purchasing an additional 517 shares during the last quarter. Quarry LP increased its stake in shares of Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company’s stock worth $29,000 after purchasing an additional 595 shares during the last quarter. Aster Capital Management DIFC Ltd increased its stake in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after purchasing an additional 827 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Braze during the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BRZE shares. Canaccord Genuity Group increased their price objective on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Friday, March 28th. Wells Fargo & Company lowered their target price on shares of Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. DA Davidson lowered their target price on shares of Braze from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus set a $50.00 target price on shares of Braze and gave the stock a “buy” rating in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $50.10.

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.