Insider Selling: Braze, Inc. (NASDAQ:BRZE) CAO Sells 3,332 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,332 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.21, for a total value of $160,635.72. Following the sale, the chief accounting officer now owns 81,353 shares of the company’s stock, valued at $3,922,028.13. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Pankaj Malik also recently made the following trade(s):

• On Tuesday, October 10th, Pankaj Malik sold 665 shares of Braze stock. The stock was 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 Trading Up 2.1 %

NASDAQ BRZE traded up $1.04 during trading hours on Monday, hitting $51.09. 713,528 shares of the company’s stock were exchanged, compared to its average volume of 752,658. The stock has a 50-day simple moving average of $45.90 and a 200 day simple moving average of $41.95. Braze, Inc. has a 1-year low of $23.10 and a 1-year high of $51.48. 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 (NASDAQ:BRZE) last announced its quarterly 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 business had revenue of $115.11 million for 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, sell-side analysts anticipate that Braze, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fred Alger Management LLC bought a new position in Braze in the third quarter worth approximately $29,000. BluePath Capital Management LLC bought a new position in Braze in the third quarter worth approximately $31,000. Canton Hathaway LLC bought a new position in Braze in the second quarter worth approximately $35,000. Royal Bank of Canada boosted its holdings in Braze by 189.3% in the third 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 position in shares of Braze in the third quarter valued at approximately $61,000. Institutional investors own 49.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Braze in a research report on Wednesday, October 18th. DA Davidson upgraded Braze from a “neutral” rating to a “buy” rating and increased their target price for the company from $48.00 to $53.00 in a research report on Tuesday, October 24th. Canaccord Genuity Group increased their target price on Braze from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 8th. BTIG Research increased their target price on Braze from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Finally, Piper Sandler increased their target price on Braze from $45.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, September 8th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.74.

About Braze

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.