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

Braze, Inc. (NASDAQ:BRZE)’s stock price traded down 4.3% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $34.64 and last traded at $34.73. 249,102 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 951,979 shares. The stock had previously closed at $36.28.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BRZE shares. Citigroup lifted their target price on Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Oppenheimer reissued an “outperform” rating and issued a $60.00 price target on shares of Braze in a research note on Wednesday, June 12th. DA Davidson restated a “buy” rating and set a $65.00 price objective on shares of Braze in a report on Friday, September 6th. Barclays decreased their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.50.

Braze Stock Up 1.0 %

The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -27.05 and a beta of 1.07. The stock’s 50 day moving average price is $40.94 and its two-hundred day moving average price is $42.46.

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

Institutional Trading of Braze

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Braze by 6.6% during the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after acquiring an additional 128,645 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Braze by 537.4% during the 4th 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 last quarter. Fiera Capital Corp raised its stake in shares of Braze by 1.0% in the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock valued at $30,320,000 after acquiring an additional 7,570 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Braze in the 4th quarter valued at approximately $37,584,000. 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.