Pankaj Malik Sells 2,618 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 2,618 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $35.23, for a total transaction of $92,232.14. Following the completion of the transaction, the chief accounting officer now directly owns 76,623 shares of the company’s stock, valued at $2,699,428.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, May 16th, Pankaj Malik sold 2,746 shares of Braze stock. The shares were sold at an average price of $41.76, for a total value of $114,672.96.

Braze Stock Performance

NASDAQ BRZE opened at $35.90 on Thursday. The stock has a market cap of $3.65 billion, a PE ratio of -28.05 and a beta of 1.06. The firm has a 50-day moving average of $39.32 and a 200-day moving average of $47.73. Braze, Inc. has a 52-week low of $33.93 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.01. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. The firm had revenue of $135.46 million during the quarter, compared to the consensus estimate of $131.56 million. As a group, analysts predict that Braze, Inc. will post -1.21 EPS for the current fiscal year.

Institutional Trading of Braze

Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank increased its position in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the period. Motley Fool Asset Management LLC bought a new position in Braze during the first quarter worth about $275,000. California State Teachers Retirement System raised its stake in Braze by 5.6% in the 1st quarter. California State Teachers Retirement System now owns 53,671 shares of the company’s stock worth $2,378,000 after purchasing an additional 2,844 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Braze in the 1st quarter valued at about $5,714,000. Finally, Quadrature Capital Ltd grew its position in shares of Braze by 7.7% during the 1st quarter. Quadrature Capital Ltd now owns 36,267 shares of the company’s stock worth $1,607,000 after purchasing an additional 2,585 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BRZE shares. JPMorgan Chase & Co. dropped their target price on Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, March 28th. BTIG Research decreased their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Wells Fargo & Company cut their price target on shares of Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. JMP Securities reiterated a “market outperform” rating and set a $68.00 target price on shares of Braze in a report on Friday, June 7th. Finally, Scotiabank decreased their price target on Braze from $58.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.88.

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.