Insider Selling: Braze, Inc. (NASDAQ:BRZE) General Counsel Sells 2,681 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) General Counsel Susan Wiseman sold 2,681 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.21, for a total value of $129,251.01. Following the sale, the general counsel now owns 76,133 shares in the company, valued at $3,670,371.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Braze Stock Up 2.1 %

Shares of NASDAQ:BRZE traded up $1.04 during trading on Monday, hitting $51.09. The stock had a trading volume of 713,528 shares, compared to its average volume of 752,658. Braze, Inc. has a 12 month low of $23.10 and a 12 month high of $51.48. The company has a market capitalization of $5.05 billion, a PE ratio of -35.73 and a beta of 1.01. The firm’s fifty day moving average is $45.90 and its 200 day moving average is $41.95.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fred Alger Management LLC bought a new position in Braze during the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC purchased a new stake in Braze during the 3rd quarter valued at $31,000. Canton Hathaway LLC purchased a new stake in Braze during the 2nd quarter valued at $35,000. Royal Bank of Canada boosted its stake in Braze by 189.3% during the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock valued at $40,000 after purchasing an additional 759 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Braze during the 3rd quarter valued at $61,000. Institutional investors own 49.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BRZE. Scotiabank boosted their target price on Braze from $46.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Friday, September 8th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Braze in a research report on Wednesday, October 18th. Canaccord Genuity Group boosted their target price on Braze from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. UBS Group increased their target price on Braze from $44.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, September 8th. Finally, Oppenheimer increased their target price on Braze from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.74.

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.