Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 9,177 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 9,177 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $41.76, for a total transaction of $383,231.52. Following the transaction, the insider now owns 221,906 shares in the company, valued at $9,266,794.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, May 20th, Myles Kleeger sold 6,344 shares of Braze stock. The stock was sold at an average price of $42.68, for a total value of $270,761.92.
• On Tuesday, February 20th, Myles Kleeger sold 6,874 shares of Braze stock. The stock was sold at an average price of $56.87, for a total value of $390,924.38.

Braze Stock Performance

BRZE opened at $42.35 on Thursday. Braze, Inc. has a 1 year low of $30.48 and a 1 year high of $61.53. The company’s 50 day simple moving average is $43.76 and its 200 day simple moving average is $50.23. The stock has a market capitalization of $4.27 billion, a PE ratio of -31.84 and a beta of 1.13.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. The company had revenue of $130.96 million for the quarter, compared to analyst estimates of $124.55 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. As a group, sell-side analysts expect that Braze, Inc. will post -1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after purchasing an additional 148,366 shares during the period. Morgan Stanley grew its stake in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after buying an additional 899,894 shares during the period. Champlain Investment Partners LLC increased its position in shares of Braze by 6.6% in the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after acquiring an additional 128,645 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Braze by 537.4% in the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after acquiring an additional 1,287,500 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Braze by 167.5% during the 3rd quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock valued at $60,467,000 after acquiring an additional 810,295 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BRZE has been the subject of several research reports. William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Braze in a report on Thursday, March 28th. Piper Sandler restated an “overweight” rating and set a $66.00 price objective on shares of Braze in a research report on Friday, April 5th. Wells Fargo & Company reduced their target price on Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, Raymond James dropped their price target on Braze from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and an average target price of $64.12.

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.