Insider Selling: Braze, Inc. (NASDAQ:BRZE) General Counsel Sells 3,558 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) General Counsel Susan Wiseman sold 3,558 shares of Braze stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $38.41, for a total value of $136,662.78. Following the completion of the transaction, the general counsel now directly owns 221,840 shares of the company’s stock, valued at $8,520,874.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Susan Wiseman also recently made the following trade(s):

• On Thursday, May 16th, Susan Wiseman sold 3,833 shares of Braze stock. The shares were sold at an average price of $41.76, for a total value of $160,066.08.

Braze Stock Performance

NASDAQ BRZE traded up $0.87 on Monday, reaching $40.30. The stock had a trading volume of 1,253,264 shares, compared to its average volume of 952,747. Braze, Inc. has a 12-month low of $33.93 and a 12-month high of $61.53. The business’s 50-day moving average price is $38.81 and its 200 day moving average price is $46.40. The stock has a market cap of $4.10 billion, a P/E ratio of -32.08 and a beta of 1.06.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01. The business had revenue of $135.46 million for the quarter, compared to analyst estimates of $131.56 million. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. On average, sell-side analysts predict that Braze, Inc. will post -1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BRZE shares. JMP Securities reissued a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research report on Friday, June 7th. William Blair reissued an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Piper Sandler lowered their price objective on Braze from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company lowered their price objective on Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Braze currently has an average rating of “Buy” and a consensus target price of $61.13.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Neo Ivy Capital Management acquired a new position in Braze during the fourth quarter worth $40,000. Covestor Ltd grew its holdings in Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Braze in the fourth quarter valued at $42,000. Comerica Bank grew its holdings in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the last quarter. Finally, RiverPark Advisors LLC lifted its holdings in Braze by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after purchasing an additional 1,411 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.