Braze, Inc. (NASDAQ:BRZE) CAO Sells $86,272.68 in Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the sale, the chief accounting officer now directly owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, June 21st, Pankaj Malik sold 2,618 shares of Braze stock. The stock was sold at an average price of $35.23, for a total value of $92,232.14.
• On Thursday, May 16th, Pankaj Malik sold 2,746 shares of Braze stock. The stock was sold at an average price of $41.76, for a total value of $114,672.96.

Braze Trading Up 0.2 %

Braze stock opened at $39.54 on Friday. Braze, Inc. has a 12 month low of $33.93 and a 12 month high of $61.53. The business’s 50 day simple moving average is $39.20 and its 200 day simple moving average is $47.14. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -30.89 and a beta of 1.06.

Braze (NASDAQ:BRZE) last posted its earnings results 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. The firm had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. As a group, equities research analysts forecast that Braze, Inc. will post -1.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JMP Securities reissued a “market outperform” rating and set a $68.00 price objective on shares of Braze in a report on Friday, June 7th. Canaccord Genuity Group boosted their target price on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. BTIG Research cut their target price on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Raymond James cut their target price on Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, June 7th. Finally, TD Cowen cut their target price on Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

Institutional Investors Weigh In On Braze

Several institutional investors have recently made changes to their positions in BRZE. HighTower Advisors LLC lifted its position in shares of Braze by 6.6% during the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock worth $256,000 after acquiring an additional 335 shares in the last quarter. Northern Trust Corp lifted its position in shares of Braze by 40.7% during the third quarter. Northern Trust Corp now owns 481,835 shares of the company’s stock worth $22,516,000 after acquiring an additional 139,416 shares in the last quarter. Lido Advisors LLC purchased a new stake in shares of Braze during the third quarter worth $327,000. Seven Eight Capital LP purchased a new stake in shares of Braze during the third quarter worth $283,000. Finally, Penserra Capital Management LLC lifted its position in shares of Braze by 375.8% during the third quarter. Penserra Capital Management LLC now owns 55,982 shares of the company’s stock worth $2,616,000 after acquiring an additional 44,217 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.