Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 15,000 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $48.75, for a total value of $731,250.00. Following the transaction, the insider now owns 184,918 shares of the company’s stock, valued at approximately $9,014,752.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, October 17th, Myles Kleeger sold 10,000 shares of Braze stock. The stock was sold at an average price of $47.08, for a total value of $470,800.00.
• On Tuesday, September 12th, Myles Kleeger sold 10,000 shares of Braze stock. The stock was sold at an average price of $47.72, for a total value of $477,200.00.
• On Friday, September 8th, Myles Kleeger sold 50,000 shares of Braze stock. The shares were sold at an average price of $49.25, for a total transaction of $2,462,500.00.
• On Friday, August 18th, Myles Kleeger sold 8,357 shares of Braze stock. The stock was sold at an average price of $40.27, for a total transaction of $336,536.39.

Braze Trading Down 1.0 %

Shares of BRZE opened at $48.73 on Friday. Braze, Inc. has a 12 month low of $23.10 and a 12 month high of $50.37. The stock has a fifty day moving average price of $45.85 and a 200-day moving average price of $41.43.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 7th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.09. The company had revenue of $115.11 million during the quarter, compared to analysts’ expectations of $108.47 million. Braze had a negative return on equity of 29.85% and a negative net margin of 33.51%. As a group, analysts forecast that Braze, Inc. will post -1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Braze from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 5th. JPMorgan Chase & Co. increased their price target on Braze from $45.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. The Goldman Sachs Group raised their price target on Braze from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Raymond James upped their price objective on shares of Braze from $44.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, September 8th. Finally, Citigroup assumed coverage on shares of Braze in a research report on Tuesday, September 5th. They set a “buy” rating and a $60.00 target price on the stock. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of BRZE. Parallel Advisors LLC increased its stake in Braze by 19.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,575 shares of the company’s stock valued at $69,000 after purchasing an additional 260 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Braze by 6.6% in the 3rd quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock valued at $256,000 after acquiring an additional 335 shares during the period. Legal & General Group Plc raised its stake in Braze by 4.3% in the 4th quarter. Legal & General Group Plc now owns 8,303 shares of the company’s stock worth $227,000 after acquiring an additional 340 shares during the last quarter. Ieq Capital LLC lifted its position in Braze by 7.0% during the 2nd quarter. Ieq Capital LLC now owns 7,915 shares of the company’s stock worth $347,000 after acquiring an additional 518 shares during the period. Finally, Arizona State Retirement System grew its stake in Braze by 4.6% during the 3rd quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock valued at $552,000 after purchasing an additional 524 shares during the last quarter. 49.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.