William Magnuson Sells 11,576 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 11,576 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 transaction of $558,078.96. Following the transaction, the chief executive officer now owns 466,933 shares of the company’s stock, valued at $22,510,839.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Braze Trading Up 2.1 %

BRZE stock traded up $1.04 during midday trading on Monday, hitting $51.09. The company’s stock had a trading volume of 713,528 shares, compared to its average volume of 752,658. The company has a market cap of $5.05 billion, a PE ratio of -35.73 and a beta of 1.01. Braze, Inc. has a 12 month low of $23.10 and a 12 month high of $51.48. The firm’s 50-day moving average is $45.90 and its 200-day moving average is $41.95.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 7th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.09. Braze had a negative net margin of 33.51% and a negative return on equity of 29.85%. The company had revenue of $115.11 million during the quarter, compared to analysts’ expectations of $108.47 million. Analysts expect that Braze, Inc. will post -1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on BRZE. JPMorgan Chase & Co. upped their target price on Braze from $45.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Canaccord Genuity Group upped their target price on Braze from $48.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 8th. Raymond James upped their target price on Braze from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Wells Fargo & Company upped their target price on Braze from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 5th. Finally, Piper Sandler raised their target price on Braze from $45.00 to $57.00 and gave the stock an “overweight” rating in a research note 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of BRZE. Morgan Stanley increased its holdings in Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after purchasing an additional 899,894 shares during the period. Vanguard Group Inc. boosted its position in Braze by 27.4% in the third quarter. Vanguard Group Inc. now owns 3,078,339 shares of the company’s stock valued at $107,219,000 after buying an additional 662,837 shares during the last quarter. BlackRock Inc. grew its holdings in Braze by 296.6% during the second quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock worth $114,050,000 after acquiring an additional 1,947,831 shares during the period. Alliancebernstein L.P. raised its position in Braze by 12.5% during the second quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock worth $104,054,000 after acquiring an additional 263,250 shares during the period. Finally, Invesco Ltd. lifted its holdings in Braze by 167.5% in the 3rd quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock valued at $60,467,000 after purchasing an additional 810,295 shares in the last quarter. 49.47% of the stock is currently owned by institutional investors.

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.