Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson Sells 25,089 Shares

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 25,089 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $900,193.32. Following the completion of the sale, the chief executive officer now directly owns 745,769 shares of the company’s stock, valued at $26,758,191.72. This trade represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Braze Stock Down 2.3%

Shares of NASDAQ BRZE opened at $34.63 on Thursday. The stock’s 50-day simple moving average is $33.13 and its two-hundred day simple moving average is $37.92. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33. The firm has a market capitalization of $3.62 billion, a P/E ratio of -30.38 and a beta of 1.15.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. Braze’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) earnings per share. As a group, research analysts anticipate that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup increased their target price on Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Braze in a report on Friday, March 28th. DA Davidson dropped their price objective on shares of Braze from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company decreased their target price on shares of Braze from $55.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Raymond James upped their target price on shares of Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $50.10.

Institutional Trading of Braze

A number of hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC increased its stake in Braze by 18.8% in the first quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock valued at $1,453,000 after acquiring an additional 6,379 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Braze in the 1st quarter worth about $691,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Braze by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock valued at $1,415,000 after purchasing an additional 1,700 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Braze during the 1st quarter valued at about $800,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Braze during the 1st quarter valued at about $4,210,000. 90.47% of the stock is owned by institutional investors.

Braze Company Profile

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.