Braze, Inc. (NASDAQ:BRZE) CTO Sells $238,738.50 in Stock

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 6,930 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the sale, the chief technology officer now directly owns 163,020 shares of the company’s stock, valued at $5,616,039. The trade was a 4.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Braze Price Performance

Braze stock opened at $38.71 on Friday. The stock has a fifty day moving average price of $32.92 and a two-hundred day moving average price of $37.48. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The firm has a market capitalization of $3.98 billion, a P/E ratio of -32.80 and a beta of 1.03.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same period in the prior year, the company posted ($0.30) earnings per share. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, equities research analysts predict that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of brokerages have issued reports on BRZE. DA Davidson decreased their target price on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. TD Cowen decreased their target price on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Macquarie started coverage on Braze in a research report on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price for the company. Oppenheimer reduced their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and an average price target of $54.47.

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.