Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez Sells 1,500 Shares

Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the transaction, the director now owns 15,269 shares of the company’s stock, valued at $633,052.74. This trade represents a 8.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Braze Trading Up 0.8 %

Braze stock opened at $36.37 on Wednesday. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $48.33. The firm’s fifty day simple moving average is $39.33 and its 200-day simple moving average is $38.05. The company has a market capitalization of $3.76 billion, a P/E ratio of -31.90 and a beta of 1.17.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business’s revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. On average, equities research analysts predict that Braze, Inc. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

BRZE has been the subject of a number of analyst reports. DA Davidson reaffirmed a “buy” rating and set a $50.00 price objective on shares of Braze in a research note on Wednesday, March 26th. Piper Sandler upped their price target on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Braze in a research report on Friday, March 28th. William Blair reissued an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Braze in a research report on Friday. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Braze presently has an average rating of “Buy” and a consensus price target of $53.00.

Institutional Investors Weigh In On Braze

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in shares of Braze in the fourth quarter valued at approximately $50,000,000. California State Teachers Retirement System grew its stake in Braze by 4.7% in the 4th quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock valued at $2,434,000 after buying an additional 2,605 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Braze in the 4th quarter worth $1,868,000. State of Wyoming acquired a new position in Braze during the 4th quarter worth $197,000. Finally, ProShare Advisors LLC boosted its holdings in Braze by 33.8% during the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock valued at $1,028,000 after acquiring an additional 6,200 shares during the period. 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.