Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik Sells 2,618 Shares

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 2,618 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $35.23, for a total value of $92,232.14. Following the sale, the chief accounting officer now owns 76,623 shares of the company’s stock, valued at approximately $2,699,428.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pankaj Malik also recently made the following trade(s):

• On Thursday, May 16th, Pankaj Malik sold 2,746 shares of Braze stock. The shares were sold at an average price of $41.76, for a total transaction of $114,672.96.

Braze Trading Up 0.9 %

Shares of BRZE opened at $35.21 on Wednesday. Braze, Inc. has a 12-month low of $33.93 and a 12-month high of $61.53. The stock has a market cap of $3.58 billion, a P/E ratio of -27.51 and a beta of 1.06. The company has a 50-day moving average of $39.40 and a two-hundred day moving average of $47.81.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.01. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The firm had revenue of $135.46 million during the quarter, compared to the consensus estimate of $131.56 million. As a group, analysts forecast that Braze, Inc. will post -1.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on BRZE. Wells Fargo & Company lowered their target price on shares of Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Braze in a research report on Monday, June 17th. JPMorgan Chase & Co. reduced their price target on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. DA Davidson reaffirmed a “buy” rating and set a $65.00 price objective on shares of Braze in a report on Monday, March 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research report on Friday, June 7th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fred Alger Management LLC acquired a new position in Braze in the 3rd quarter valued at about $29,000. Neo Ivy Capital Management acquired a new position in shares of Braze in the fourth quarter valued at approximately $40,000. 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 valued at $41,000 after buying an additional 738 shares during the period. Canton Hathaway LLC acquired a new stake in Braze during the fourth quarter worth approximately $42,000. Finally, Comerica Bank grew its stake in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.