Insider Selling: Braze, Inc. (NASDAQ:BRZE) Insider Sells 9,178 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 9,178 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $379,693.86. Following the completion of the sale, the insider now directly owns 206,340 shares of the company’s stock, valued at approximately $8,536,285.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, August 20th, Myles Kleeger sold 6,377 shares of Braze stock. The stock was sold at an average price of $43.58, for a total transaction of $277,909.66.

Braze Trading Down 1.7 %

Shares of NASDAQ:BRZE opened at $43.47 on Friday. The firm has a market capitalization of $4.42 billion, a PE ratio of -33.96 and a beta of 1.07. Braze, Inc. has a 1-year low of $33.93 and a 1-year high of $61.53. The business’s 50 day moving average is $39.31 and its 200-day moving average is $44.09.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.01. The firm had revenue of $135.46 million during the quarter, compared to analysts’ expectations 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 EPS for the current year.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. Point72 Asset Management L.P. bought a new position in Braze during the second quarter worth about $10,166,000. Quarry LP acquired a new position in shares of Braze in the 2nd quarter worth approximately $50,000. Creative Planning lifted its position in shares of Braze by 1.7% during the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after buying an additional 384 shares during the period. Algert Global LLC acquired a new stake in Braze in the 2nd quarter valued at $2,376,000. Finally, Mackenzie Financial Corp bought a new stake in Braze in the second quarter valued at $971,000. Institutional investors own 90.47% of the company’s stock.

Analysts Set New Price Targets

BRZE has been the subject of a number of analyst reports. BTIG Research reduced their price target on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Canaccord Genuity Group boosted their target price on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 7th. TD Cowen lowered their price target on Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Raymond James lowered their target price on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, June 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $60.00 target price on shares of Braze in a report on Wednesday, June 12th. Seventeen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $61.13.

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.