Braze, Inc. (NASDAQ:BRZE) Insider Myles Kleeger Sells 9,225 Shares

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 9,225 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $317,801.25. Following the sale, the insider now owns 190,738 shares of the company’s stock, valued at $6,570,924.10. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Myles Kleeger also recently made the following trade(s):

• On Wednesday, November 20th, Myles Kleeger sold 6,342 shares of Braze stock. The shares were sold at an average price of $36.03, for a total value of $228,502.26.
• On Monday, August 26th, Myles Kleeger sold 50,000 shares of Braze stock. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00.

Braze Stock Down 0.5 %

Braze stock opened at $36.02 on Thursday. The firm’s 50-day moving average is $32.86 and its two-hundred day moving average is $37.48. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) earnings per share. On average, research analysts anticipate that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Loop Capital reaffirmed a “buy” rating and set a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Stifel Nicolaus assumed coverage on shares of Braze in a research note on Tuesday, October 22nd. They set a “buy” rating and a $37.00 price target on the stock. DA Davidson lowered their price objective on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Piper Sandler dropped their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank grew its stake in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the period. Blair William & Co. IL increased its stake in Braze by 2.2% during the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after acquiring an additional 283 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after purchasing an additional 290 shares during the period. American International Group Inc. lifted its stake in shares of Braze by 1.2% in the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after purchasing an additional 310 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the period. 90.47% of the stock is currently owned by hedge funds and other 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.