Insider Selling: Braze, Inc. (NASDAQ:BRZE) Director Sells 1,377 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the sale, the director now directly owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Braze Stock Performance

NASDAQ BRZE traded up $0.04 during trading on Wednesday, hitting $30.01. 874,585 shares of the company’s stock traded hands, compared to its average volume of 1,013,232. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -23.41 and a beta of 1.03. Braze, Inc. has a 12-month low of $29.95 and a 12-month high of $61.53. The business has a 50 day moving average of $38.33 and a 200-day moving average of $39.63.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The company 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%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. On average, analysts expect that Braze, Inc. will post -1.02 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares in the last quarter. Blair William & Co. IL lifted its stake in Braze by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after purchasing an additional 283 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after purchasing an additional 290 shares during the period. American International Group Inc. grew its position in shares of Braze by 1.2% during the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after purchasing an additional 310 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Braze by 1.7% in the second quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after purchasing an additional 384 shares during the period. Institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group cut their price target on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Oppenheimer lowered their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. TD Cowen dropped their price objective on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price target on shares of Braze in a research report on Tuesday, September 24th. Eighteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze currently has an average rating of “Buy” and an average price target of $59.18.

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.