Braze, Inc. (NASDAQ:BRZE) CEO Sells $558,078.96 in Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 11,576 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.21, for a total transaction of $558,078.96. Following the sale, the chief executive officer now owns 466,933 shares of the company’s stock, valued at $22,510,839.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Braze Price Performance

Braze stock traded up $1.04 during midday trading on Monday, reaching $51.09. 713,528 shares of the company traded hands, compared to its average volume of 752,658. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of -35.73 and a beta of 1.01. The business has a 50 day moving average of $45.90 and a two-hundred day moving average of $41.95. Braze, Inc. has a 12 month low of $23.10 and a 12 month high of $51.48.

Braze (NASDAQ:BRZE) last issued 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. The company had revenue of $115.11 million for the quarter, compared to the consensus estimate of $108.47 million. Braze had a negative net margin of 33.51% and a negative return on equity of 29.85%. As a group, equities analysts forecast that Braze, Inc. will post -1.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BRZE. Barclays increased their target price on shares of Braze from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Citigroup began coverage on shares of Braze in a research note on Tuesday, September 5th. They set a “buy” rating and a $60.00 target price on the stock. Oppenheimer lifted their target price on shares of Braze from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, September 8th. Piper Sandler lifted their target price on shares of Braze from $45.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. Finally, JMP Securities upped their target price on shares of Braze from $46.00 to $56.00 and gave the stock a “market outperform” rating in a research report on Friday, September 8th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.74.

Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fred Alger Management LLC purchased a new stake in Braze in the 3rd quarter worth approximately $29,000. BluePath Capital Management LLC purchased a new stake in Braze in the 3rd quarter worth approximately $31,000. Canton Hathaway LLC purchased a new stake in Braze in the 2nd quarter worth approximately $35,000. Royal Bank of Canada increased its holdings in Braze by 189.3% in the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after acquiring an additional 759 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Braze during the 3rd quarter valued at approximately $61,000. Hedge funds and other institutional investors own 49.47% of the company’s stock.

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.