Insider Selling: Braze, Inc. (NASDAQ:BRZE) CTO Sells 1,000 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 1,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $42.44, for a total transaction of $42,440.00. Following the sale, the chief technology officer now directly owns 183,258 shares of the company’s stock, valued at $7,777,469.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jonathan Hyman also recently made the following trade(s):

• On Friday, February 16th, Jonathan Hyman sold 3,730 shares of Braze stock. The shares were sold at an average price of $57.51, for a total transaction of $214,512.30.

Braze Price Performance

Braze stock opened at $40.86 on Thursday. Braze, Inc. has a one year low of $28.13 and a one year high of $61.53. The company’s fifty day moving average price is $46.18 and its two-hundred day moving average price is $50.30. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of -30.72 and a beta of 1.13.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. The business had revenue of $130.96 million for the quarter, compared to the consensus estimate of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. As a group, sell-side analysts anticipate that Braze, Inc. will post -1.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on BRZE. DA Davidson reiterated a “buy” rating and set a $65.00 price objective on shares of Braze in a research report on Monday, March 25th. JPMorgan Chase & Co. dropped their price target on Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, March 28th. Oppenheimer restated an “outperform” rating and set a $75.00 price objective on shares of Braze in a research report on Thursday, March 28th. Canaccord Genuity Group dropped their target price on Braze from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, UBS Group upgraded shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.12.

Institutional Trading of Braze

Several large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Braze by 21.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,678 shares of the company’s stock valued at $452,000 after purchasing an additional 1,684 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Braze during the third quarter worth approximately $31,000. Strs Ohio boosted its position in shares of Braze by 165.4% in the third quarter. Strs Ohio now owns 21,500 shares of the company’s stock valued at $1,004,000 after acquiring an additional 13,400 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Braze by 47.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,243 shares of the company’s stock worth $1,086,000 after acquiring an additional 7,527 shares during the last quarter. Finally, State of Michigan Retirement System bought a new position in Braze during the third quarter worth $820,000. 90.47% of the stock is owned by institutional investors.

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.