Pankaj Malik Sells 2,262 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the sale, the chief accounting officer now owns 74,361 shares in the company, valued at $2,836,128.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, June 21st, Pankaj Malik sold 2,618 shares of Braze stock. The stock was sold at an average price of $35.23, for a total value of $92,232.14.
• On Thursday, May 16th, Pankaj Malik sold 2,746 shares of Braze stock. The stock was sold at an average price of $41.76, for a total value of $114,672.96.

Braze Stock Performance

Shares of NASDAQ:BRZE opened at $39.54 on Thursday. Braze, Inc. has a 52-week low of $33.93 and a 52-week high of $61.53. The business’s 50 day simple moving average is $39.23 and its two-hundred day simple moving average is $47.20. The firm has a market cap of $4.02 billion, a P/E ratio of -30.89 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, March 28th. Piper Sandler cut their price objective on Braze from $66.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, June 7th. BTIG Research cut their price objective on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, March 28th. Finally, Wells Fargo & Company cut their price objective on Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.88.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently added to or reduced their stakes in BRZE. 1832 Asset Management L.P. grew its stake in Braze by 537.4% in the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after acquiring an additional 1,287,500 shares during the period. Morgan Stanley boosted its position in shares of 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 last quarter. Norges Bank purchased a new position in shares of Braze during the fourth quarter valued at approximately $37,584,000. Fiera Capital Corp purchased a new position in shares of Braze during the fourth quarter valued at approximately $31,153,000. Finally, Vanguard Group Inc. boosted its position in shares of Braze by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after buying an additional 480,179 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.