Braze (NASDAQ:BRZE) Trading Down 3.6% After Insider Selling

Braze, Inc. (NASDAQ:BRZE) was down 3.6% during trading on Wednesday following insider selling activity. The company traded as low as $30.01 and last traded at $30.50. Approximately 152,461 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,022,892 shares. The stock had previously closed at $31.63.

Specifically, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BRZE shares. JMP Securities restated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research report on Tuesday, September 24th. Oppenheimer cut their target price on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Piper Sandler cut their target price on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. UBS Group cut their target price on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Scotiabank upgraded 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 report on Wednesday, July 10th. Eighteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze has a consensus rating of “Buy” and a consensus price target of $58.53.

Braze Price Performance

The firm’s fifty day moving average is $37.10 and its 200 day moving average is $38.91. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -23.64 and a beta of 1.03.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the business posted ($0.30) EPS. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. Equities research analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Braze

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of Braze by 21.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock valued at $19,973,000 after buying an additional 65,973 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Braze by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after buying an additional 480,179 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Braze by 10.2% in the 1st quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock valued at $561,000 after buying an additional 1,205 shares in the last quarter. Diversified Trust Co grew its stake in shares of Braze by 28.1% in the 1st quarter. Diversified Trust Co now owns 20,728 shares of the company’s stock valued at $918,000 after buying an additional 4,551 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Braze by 0.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock valued at $13,406,000 after buying an additional 984 shares in the last quarter. 90.47% of the stock is 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.