Insider Selling: Braze, Inc. (NASDAQ:BRZE) Director Sells 1,500 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $41.79, for a total transaction of $62,685.00. Following the completion of the sale, the director now owns 11,056 shares of the company’s stock, valued at $462,030.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Braze Price Performance

NASDAQ:BRZE opened at $38.94 on Friday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -29.28 and a beta of 1.13. The company has a 50 day moving average price of $50.39 and a 200-day moving average price of $50.70. Braze, Inc. has a 1-year low of $25.76 and a 1-year high of $61.53.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BRZE shares. Raymond James lowered their target price on shares of Braze from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. Canaccord Genuity Group lowered their target price on shares of Braze from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Braze in a research note on Thursday, March 28th. Oppenheimer restated an “outperform” rating and set a $75.00 price objective on shares of Braze in a research note on Thursday, March 28th. Finally, UBS Group upgraded shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Thursday, March 21st. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Braze presently has an average rating of “Moderate Buy” and a consensus price target of $64.29.

Hedge Funds Weigh In On Braze

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in Braze in the 1st quarter worth $370,000. Bank of Montreal Can increased its holdings in Braze by 81.7% in the 1st quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock worth $4,645,000 after acquiring an additional 46,591 shares in the last quarter. BlackRock Inc. increased its holdings in Braze by 2,301.3% in the 1st quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock worth $5,111,000 after acquiring an additional 118,101 shares in the last quarter. Blair William & Co. IL increased its holdings in Braze by 8.7% in the 1st quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock worth $424,000 after acquiring an additional 820 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Braze by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock worth $28,860,000 after acquiring an additional 124,741 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.