Insider Selling: Braze, Inc. (NASDAQ:BRZE) Insider Sells $270,761.92 in Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 6,344 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $42.68, for a total transaction of $270,761.92. Following the completion of the sale, the insider now directly owns 215,518 shares in the company, valued at $9,198,308.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Myles Kleeger also recently made the following trade(s):

• On Thursday, May 16th, Myles Kleeger sold 9,177 shares of Braze stock. The stock was sold at an average price of $41.76, for a total transaction of $383,231.52.
• On Tuesday, February 20th, Myles Kleeger sold 6,874 shares of Braze stock. The stock was sold at an average price of $56.87, for a total transaction of $390,924.38.

Braze Price Performance

NASDAQ BRZE opened at $42.35 on Thursday. Braze, Inc. has a 1 year low of $30.48 and a 1 year high of $61.53. The stock has a market capitalization of $4.27 billion, a PE ratio of -31.84 and a beta of 1.13. The business’s 50-day moving average is $43.76 and its 200 day moving average is $50.23.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. The firm had revenue of $130.96 million for the quarter, compared to analyst estimates of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. As a group, equities research analysts anticipate that Braze, Inc. will post -1.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. boosted its stake in shares of Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after purchasing an additional 1,287,500 shares in the last quarter. Morgan Stanley lifted its holdings in Braze by 20.1% in the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after buying an additional 899,894 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Braze by 180.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock worth $60,053,000 after buying an additional 826,100 shares during the period. Invesco Ltd. grew its holdings in shares of Braze by 167.5% during the 3rd quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock worth $60,467,000 after acquiring an additional 810,295 shares during the period. Finally, Norges Bank purchased a new position in shares of Braze during the 4th quarter worth approximately $37,584,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRZE has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and set a $66.00 price target on shares of Braze in a research report on Friday, April 5th. DA Davidson restated a “buy” rating and issued a $65.00 target price on shares of Braze in a research report on Monday, March 25th. UBS Group upgraded shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price objective on shares of Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.12.

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.