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 dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $238,738.50. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Braze Price Performance

Shares of BRZE opened at $38.71 on Friday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -32.80 and a beta of 1.03. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The business’s 50-day moving average is $32.92 and its 200-day moving average is $37.48.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. Equities research analysts expect that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Braze

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in Braze in the third quarter worth approximately $253,000. Geode Capital Management LLC increased its holdings in Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after buying an additional 229,660 shares during the last quarter. Vestcor Inc acquired a new position in Braze in the third quarter worth approximately $1,617,000. Bullseye Asset Management LLC increased its holdings in Braze by 14.3% in the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after buying an additional 3,100 shares during the last quarter. Finally, Barclays PLC increased its holdings in Braze by 148.1% in the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after buying an additional 64,093 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BRZE shares. Piper Sandler reduced their price objective on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. TD Cowen cut their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. DA Davidson cut their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Barclays cut their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.47.

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.