Braze (NASDAQ:BRZE) Shares Gap Down Following Insider Selling

Braze, Inc. (NASDAQ:BRZE) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $44.13, but opened at $41.50. Braze shares last traded at $37.82, with a volume of 607,278 shares traded.

Specifically, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $43.41, for a total value of $195,345.00. Following the completion of the sale, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at $9,385,589.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Susan Wiseman sold 8,553 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $44.31, for a total value of $378,983.43. Following the sale, the general counsel now owns 206,930 shares of the company’s stock, valued at approximately $9,169,068.30. The disclosure for this sale can be found here.

Analyst Ratings Changes

BRZE has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research report on Friday. Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. BTIG Research cut their target price on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Raymond James decreased their price target on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, June 7th. Seventeen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Braze currently has an average rating of “Buy” and an average target price of $60.50.

Braze Trading Down 19.4 %

The stock has a market cap of $3.61 billion, a PE ratio of -27.79 and a beta of 1.07. The business has a 50-day moving average price of $41.21 and a 200 day moving average price of $42.92.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) EPS. On average, equities analysts predict that Braze, Inc. will post -1.21 earnings per share for the current year.

Institutional Trading of Braze

A number of institutional investors have recently modified their holdings of BRZE. Neo Ivy Capital Management purchased a new position in Braze in the 4th quarter valued at approximately $40,000. Covestor Ltd boosted its holdings in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the period. Quarry LP purchased a new position in shares of Braze in the second quarter valued at $50,000. Comerica Bank lifted its holdings 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 purchasing an additional 276 shares in the last quarter. Finally, Canton Hathaway LLC boosted its stake in Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after purchasing an additional 1,187 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.