Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 9,225 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 9,225 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $317,801.25. Following the completion of the transaction, the insider now owns 190,738 shares of the company’s stock, valued at approximately $6,570,924.10. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The stock was sold at an average price of $36.03, for a total value of $228,502.26.
• On Monday, August 26th, Myles Kleeger sold 50,000 shares of Braze stock. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00.

Braze Price Performance

Shares of NASDAQ BRZE opened at $36.02 on Thursday. The business’s 50 day moving average is $32.86 and its two-hundred day moving average is $37.48. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate 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. Sell-side analysts expect that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BRZE shares. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. Macquarie initiated coverage on Braze in a report on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price for the company. Stifel Nicolaus assumed coverage on Braze in a research report on Tuesday, October 22nd. They set a “buy” rating and a $37.00 price target for the company. TD Cowen lowered their target price on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group reduced their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

Institutional Investors Weigh In On Braze

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stephens Investment Management Group LLC purchased a new position in shares of Braze during the third quarter worth about $20,794,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Braze by 69.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after purchasing an additional 612,400 shares during the period. Granite Investment Partners LLC purchased a new position in Braze during the 2nd quarter worth approximately $12,925,000. State Street Corp increased its position in Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after buying an additional 279,050 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Braze in the second quarter valued at approximately $10,166,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.