Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman Sells 6,930 Shares

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 6,930 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $238,738.50. Following the completion of the transaction, the chief technology officer now owns 163,020 shares in the company, valued at $5,616,039. The trade was a 4.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Braze Stock Up 5.2 %

Shares of Braze stock opened at $37.90 on Friday. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The firm has a market cap of $3.89 billion, a PE ratio of -32.12 and a beta of 1.03. The business’s fifty day moving average is $32.92 and its two-hundred day moving average is $37.48.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $141.32 million. During the same period in the prior year, the firm earned ($0.30) EPS. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Braze, Inc. will post -1.02 EPS for the current year.

Hedge Funds Weigh In On Braze

Several large investors have recently modified their holdings of BRZE. Point72 Asset Management L.P. bought a new position in Braze in the second quarter worth about $10,166,000. Vanguard Group Inc. grew its holdings in shares of Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after acquiring an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of Braze in the first quarter worth about $5,714,000. Mackenzie Financial Corp purchased a new position in Braze during the 2nd quarter worth approximately $971,000. Finally, Sei Investments Co. raised its position in Braze by 12.9% during the first quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock valued at $5,005,000 after buying an additional 12,878 shares during the period. Institutional investors own 90.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BRZE shares. Barclays cut their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Stifel Nicolaus started coverage on Braze in a research note on Tuesday, October 22nd. They set a “buy” rating and a $37.00 target price on the stock. Finally, Macquarie began coverage on Braze in a research note on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.