Myles Kleeger Sells 6,342 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) insider Myles Kleeger sold 6,342 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total value of $228,502.26. Following the transaction, the insider now owns 184,396 shares in the company, valued at $6,643,787.88. This trade represents a 3.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, November 18th, Myles Kleeger sold 9,225 shares of Braze stock. The shares were sold at an average price of $34.45, for a total transaction of $317,801.25.
• On Monday, August 26th, Myles Kleeger sold 50,000 shares of Braze stock. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00.

Braze Stock Down 0.5 %

Braze stock traded down $0.18 during mid-day trading on Wednesday, reaching $36.02. 934,946 shares of the company’s stock were exchanged, compared to its average volume of 1,029,993. The company has a market cap of $3.70 billion, a P/E ratio of -30.53 and a beta of 1.03. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53. The company has a fifty day moving average of $32.83 and a 200-day moving average of $37.49.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million during 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 quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) EPS. Equities research analysts expect that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently modified their holdings of BRZE. Covestor Ltd boosted its position in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares in the last quarter. Quarry LP purchased a new stake in Braze during the second quarter worth approximately $50,000. Comerica Bank boosted its holdings in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares in the last quarter. KBC Group NV raised its holdings in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on BRZE shares. Macquarie assumed coverage on Braze in a research report on Thursday, October 31st. They set a “neutral” rating and a $30.00 price target for the company. UBS Group dropped their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. Piper Sandler cut their price objective on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Barclays lowered their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.47.

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.