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

Braze, Inc. (NASDAQ:BRZE - Get Free Report) Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the transaction, the director now directly owns 15,269 shares of the company's stock, valued at $633,052.74. This trade represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Braze Trading Down 5.4 %

Shares of BRZE traded down $1.76 during trading hours on Friday, reaching $30.98. The company had a trading volume of 1,458,963 shares, compared to its average volume of 1,208,805. The firm has a 50 day simple moving average of $38.61 and a 200-day simple moving average of $37.99. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $48.33. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -27.18 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The company's quarterly revenue was up 22.4% on a year-over-year basis. Sell-side analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

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Analyst Ratings Changes

Several research firms have issued reports on BRZE. Raymond James upped their price objective on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, March 28th. Piper Sandler raised their price target on Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 10th. Citigroup lifted their price target on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Canaccord Genuity Group raised their target price on shares of Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $55.00 target price (up from $50.00) on shares of Braze in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $53.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after purchasing an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after purchasing an additional 928 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Braze during the 4th quarter worth approximately $47,000. Finally, Versant Capital Management Inc purchased a new stake in Braze in the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 90.47% of the company's stock.

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.