Braze (NASDAQ:BRZE) Stock Price Down 4.3% After Insider Selling

Braze, Inc. (NASDAQ:BRZE)’s stock price was down 4.3% on Tuesday after an insider sold shares in the company. The stock traded as low as $34.64 and last traded at $34.73. Approximately 249,102 shares changed hands during trading, a decline of 74% from the average daily volume of 951,979 shares. The stock had previously closed at $36.28.

Specifically, General Counsel Susan Wiseman sold 3,447 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the transaction, the general counsel now owns 206,930 shares in the company, valued at approximately $9,104,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $43.41, for a total value of $195,345.00. Following the sale, the chief financial officer now owns 216,208 shares in the company, valued at approximately $9,385,589.28. The disclosure for this sale can be found here. In other news, General Counsel Susan Wiseman sold 8,553 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $44.31, for a total value of $378,983.43. Following the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,169,068.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BRZE shares. Citigroup upped their target price on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. BTIG Research reduced their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 31st. DA Davidson reaffirmed a “buy” rating and issued a $65.00 price target on shares of Braze in a report on Friday, September 6th. Finally, Canaccord Genuity Group lifted their price objective on Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $60.50.

Braze Trading Down 5.5 %

The business has a 50-day moving average price of $41.04 and a 200-day moving average price of $42.52. The stock has a market cap of $3.48 billion, a PE ratio of -26.79 and a beta of 1.07.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 26.10%. The company’s revenue was up 26.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.30) earnings per share. Equities analysts expect that Braze, Inc. will post -1.21 earnings per share for the current year.

Institutional Investors Weigh In On Braze

Institutional investors have recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in shares of Braze during the fourth quarter valued at approximately $40,000. Covestor Ltd raised its stake in Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the last quarter. Comerica Bank raised its stake in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the last quarter. Quarry LP purchased a new position in Braze in the 2nd quarter valued at $50,000. Finally, RiverPark Advisors LLC boosted its stake in Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.