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

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,332 shares of the 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 directly owns 81,353 shares of the company’s stock, valued at $3,922,028.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 shares were sold at an average price of $46.77, for a total value of $108,927.33.

Braze Stock Up 2.1 %

BRZE stock traded up $1.04 during midday trading on Monday, reaching $51.09. The stock had a trading volume of 713,528 shares, compared to its average volume of 752,658. The business has a fifty day simple moving average of $45.90 and a two-hundred day simple moving average of $41.95. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -35.73 and a beta of 1.01. Braze, Inc. has a twelve month low of $23.10 and a twelve month high of $51.48.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.09. The company 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%. On average, equities analysts predict that Braze, Inc. will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Braze

Several institutional investors have recently modified their holdings of the business. Diversified Trust Co bought a new position in shares of Braze during the 3rd quarter valued at about $572,000. Morgan Stanley lifted its holdings in shares of Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after purchasing an additional 899,894 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Braze by 375.8% during the 3rd quarter. Penserra Capital Management LLC now owns 55,982 shares of the company’s stock valued at $2,616,000 after purchasing an additional 44,217 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Braze by 76.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the company’s stock valued at $1,211,000 after purchasing an additional 11,260 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of Braze by 55.6% during the 3rd quarter. GSA Capital Partners LLP now owns 11,704 shares of the company’s stock valued at $547,000 after purchasing an additional 4,181 shares in the last quarter. Institutional investors own 49.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TD Cowen raised their target price on Braze from $45.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, September 8th. UBS Group raised their target price on Braze from $44.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, September 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Braze in a research report on Wednesday, October 18th. BTIG Research raised their target price on Braze from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Finally, Citigroup began coverage on Braze in a research report on Tuesday, September 5th. They issued a “buy” rating and a $60.00 target price for the company. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target 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.