Braze (NASDAQ:BRZE) CRO Sells 29,732 Shares

Braze, Inc. (NASDAQ:BRZE – Get Free Report) CRO Edward Mcdonnell sold 29,732 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $31.38, for a total value of $932,990.16. Following the completion of the transaction, the executive directly owned 409,630 shares of the company’s stock, valued at approximately $12,854,189.40. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Braze Trading Up 0.0%

Shares of Braze stock traded up $0.01 during mid-day trading on Wednesday, hitting $30.81. 1,800,063 shares of the stock were exchanged, compared to its average volume of 2,957,225. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -27.51 and a beta of 0.83. The company has a 50-day simple moving average of $25.06 and a 200 day simple moving average of $22.48. Braze, Inc. has a twelve month low of $15.26 and a twelve month high of $37.33.

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Braze (NASDAQ:BRZE – Get Free Report) last released its earnings results on Wednesday, May 27th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Braze had a negative net margin of 15.51% and a negative return on equity of 17.52%. The firm had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $205.19 million. During the same period in the previous year, the company earned $0.07 EPS. Braze’s revenue for the quarter was up 30.2% on a year-over-year basis. Equities research analysts forecast that Braze, Inc. will post -0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BRZE. UBS Group reiterated an “outperform” rating on shares of Braze in a report on Thursday, May 28th. Piper Sandler reissued an “overweight” rating and set a $27.00 target price on shares of Braze in a research report on Thursday, May 28th. JPMorgan Chase & Co. increased their price target on Braze from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Mizuho reduced their price objective on shares of Braze from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, May 28th. Finally, BTIG Research lifted their target price on Braze from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.06.

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Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. NBC Securities Inc. bought a new position in shares of Braze in the fourth quarter worth $27,000. Fifth Third Bancorp acquired a new position in shares of Braze in the 1st quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in Braze by 3,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock worth $28,000 after buying an additional 803 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Braze during the second quarter worth $36,000. Finally, Osaic Holdings Inc. lifted its stake in Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after buying an additional 1,404 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

About Braze

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Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.

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