Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson Sells 11,576 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 11,576 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.21, for a total transaction of $558,078.96. Following the sale, the chief executive officer now directly owns 466,933 shares of the company’s stock, valued at $22,510,839.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Braze Stock Performance

Shares of Braze stock opened at $51.09 on Tuesday. The firm has a market cap of $5.05 billion, a PE ratio of -35.73 and a beta of 1.01. The firm’s 50-day simple moving average is $45.90 and its 200-day simple moving average is $41.95. Braze, Inc. has a 1 year low of $23.10 and a 1 year high of $51.48.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.09. The business had revenue of $115.11 million for the quarter, compared to analyst estimates of $108.47 million. Braze had a negative net margin of 33.51% and a negative return on equity of 29.85%. On average, equities analysts predict that Braze, Inc. will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On Braze

Institutional investors have recently modified their holdings of the business. Fred Alger Management LLC bought a new stake in shares of Braze during the 3rd quarter valued at about $29,000. BluePath Capital Management LLC bought a new stake in shares of Braze during the 3rd quarter valued at about $31,000. Canton Hathaway LLC bought a new stake in shares of Braze during the 2nd quarter valued at about $35,000. Royal Bank of Canada grew its position in shares of 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 buying an additional 759 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Braze during the 3rd quarter valued at about $61,000. Institutional investors own 49.47% of the company’s stock.

Analysts Set New Price Targets

BRZE has been the subject of several research reports. BTIG Research boosted their price objective on shares of Braze from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Wells Fargo & Company lifted their target price on shares of Braze from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 5th. Piper Sandler lifted their target price on shares of Braze from $45.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Braze in a report on Wednesday, October 18th. Finally, Scotiabank lifted their target price on shares of Braze from $46.00 to $55.00 and gave the company a “sector perform” rating in a report on Friday, September 8th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.