Braze, Inc. (NASDAQ:BRZE) CAO Sells $160,635.72 in Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,332 shares of Braze stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.21, for a total value of $160,635.72. Following the completion of the sale, the chief accounting officer now owns 81,353 shares in the company, valued at $3,922,028.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pankaj Malik also recently made the following trade(s):

• On Tuesday, October 10th, Pankaj Malik sold 665 shares of Braze stock. The shares were sold at an average price of $48.22, for a total value of $32,066.30.
• On Friday, October 6th, Pankaj Malik sold 2,329 shares of Braze stock. The stock was sold at an average price of $46.77, for a total value of $108,927.33.

Braze Trading Up 2.1 %

Braze stock opened at $51.09 on Tuesday. The firm has a market capitalization of $5.05 billion, a P/E ratio of -35.73 and a beta of 1.01. The stock has a fifty day moving average price of $45.90 and a 200 day moving average price of $41.95. Braze, Inc. has a 52 week low of $23.10 and a 52 week high of $51.48.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, September 7th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.09. The firm had revenue of $115.11 million during the quarter, compared to analyst estimates 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, equities analysts predict that Braze, Inc. will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlpInvest Partners B.V. increased its stake in Braze by 71.5% during the second quarter. AlpInvest Partners B.V. now owns 35,597 shares of the company’s stock worth $1,559,000 after acquiring an additional 14,835 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Braze by 6.3% during the first quarter. CIBC Private Wealth Group LLC now owns 283,399 shares of the company’s stock worth $9,797,000 after acquiring an additional 16,872 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Braze by 33.4% in the second quarter. Bank of New York Mellon Corp now owns 434,574 shares of the company’s stock worth $19,030,000 after buying an additional 108,920 shares during the period. Mirabella Financial Services LLP purchased a new stake in shares of Braze in the first quarter worth about $840,000. Finally, DC Investments Management LLC purchased a new stake in shares of Braze in the first quarter worth about $283,000. 49.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on BRZE. Wells Fargo & Company boosted their target price on Braze from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 5th. JMP Securities boosted their target price on Braze from $46.00 to $56.00 and gave the stock a “market outperform” rating in a research report on Friday, September 8th. DA Davidson upgraded Braze from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $53.00 in a research report on Tuesday, October 24th. JPMorgan Chase & Co. boosted their target price on Braze from $45.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Finally, Barclays boosted their price target on Braze from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.