Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik Sells 3,332 Shares

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,332 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.21, for a total value of $160,635.72. Following the completion of the sale, the chief accounting officer now owns 81,353 shares in the company, valued at approximately $3,922,028.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, October 10th, Pankaj Malik sold 665 shares of Braze stock. The shares were sold at an average price of $48.22, for a total value of $32,066.30.
• On Friday, October 6th, Pankaj Malik sold 2,329 shares of Braze stock. The stock was sold at an average price of $46.77, for a total value of $108,927.33.

Braze Stock Up 2.1 %

Shares of BRZE opened at $51.09 on Tuesday. Braze, Inc. has a 52-week low of $23.10 and a 52-week high of $51.48. The company has a market capitalization of $5.05 billion, a PE ratio of -35.73 and a beta of 1.01. The stock has a fifty day simple moving average of $45.90 and a two-hundred day simple moving average of $41.95.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 7th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.09. The business had revenue of $115.11 million during the quarter, compared to analysts’ expectations of $108.47 million. Braze had a negative return on equity of 29.85% and a negative net margin of 33.51%. As a group, equities analysts anticipate that Braze, Inc. will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Braze

A number of hedge funds have recently modified their holdings of BRZE. Fred Alger Management LLC purchased a new position in shares of Braze during the 3rd quarter worth $29,000. BluePath Capital Management LLC purchased a new position in shares of Braze during the 3rd quarter worth $31,000. Canton Hathaway LLC purchased a new position in shares of Braze during the 2nd quarter worth $35,000. Royal Bank of Canada boosted its holdings in Braze by 189.3% during the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock valued at $40,000 after acquiring an additional 759 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in Braze during the 3rd quarter valued at about $61,000. 49.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Raymond James upped their price objective on Braze from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, September 8th. DA Davidson upgraded Braze from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $48.00 to $53.00 in a research report on Tuesday, October 24th. UBS Group upped their target price on Braze from $44.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, September 8th. Canaccord Genuity Group upped their target price on Braze from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Finally, Citigroup began coverage on Braze in a research note on Tuesday, September 5th. They set a “buy” rating and a $60.00 target price for the company. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.