Insider Selling: Braze, Inc. (NASDAQ:BRZE) Director Sells $62,685.00 in Stock

Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $41.79, for a total value of $62,685.00. Following the completion of the sale, the director now owns 11,056 shares of the company’s stock, valued at approximately $462,030.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Braze Stock Down 0.8 %

Shares of BRZE stock opened at $38.94 on Friday. The stock has a fifty day moving average of $50.39 and a 200 day moving average of $50.70. Braze, Inc. has a 52 week low of $25.76 and a 52 week high of $61.53. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -29.28 and a beta of 1.13.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. The company had revenue of $130.96 million during the quarter, compared to analyst estimates of $124.55 million. Equities research analysts anticipate that Braze, Inc. will post -1.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Thursday, March 21st. Oppenheimer restated an “outperform” rating and issued a $75.00 target price on shares of Braze in a research report on Thursday, March 28th. Scotiabank dropped their target price on Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a research report on Thursday, March 28th. DA Davidson restated a “buy” rating and issued a $65.00 target price on shares of Braze in a report on Monday, March 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Braze in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.29.

Hedge Funds Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in Braze during the third quarter valued at $4,377,000. Morgan Stanley lifted its position in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after buying an additional 899,894 shares during the period. Seven Eight Capital LP purchased a new position in Braze during the third quarter valued at $283,000. Penserra Capital Management LLC lifted its position in Braze by 375.8% during the third quarter. Penserra Capital Management LLC now owns 55,982 shares of the company’s stock valued at $2,616,000 after buying an additional 44,217 shares during the period. Finally, Vanguard Group Inc. lifted its position in Braze by 4.5% during the third quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company’s stock valued at $246,099,000 after buying an additional 228,089 shares during the period. Hedge funds and other institutional investors 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.