Braze (NASDAQ:BRZE) CRO Edward Mcdonnell Sells 29,732 Shares

Braze, Inc. (NASDAQ:BRZE) CRO Edward Mcdonnell sold 29,732 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.38, for a total transaction of $932,990.16. Following the completion of the transaction, the executive owned 409,630 shares in the company, valued at approximately $12,854,189.40. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Braze Price Performance

BRZE stock opened at $30.81 on Thursday. Braze, Inc. has a 12 month low of $15.26 and a 12 month high of $37.33. The firm’s 50-day moving average is $25.28 and its 200 day moving average is $22.57. The company has a market capitalization of $3.47 billion, a PE ratio of -27.51 and a beta of 0.83.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $205.19 million. Braze had a negative net margin of 15.51% and a negative return on equity of 17.52%. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 EPS. Sell-side analysts forecast that Braze, Inc. will post -0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Braze

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Braze by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock worth $337,793,000 after purchasing an additional 892,635 shares in the last quarter. Dana Investment Advisors Inc. purchased a new stake in shares of Braze during the fourth quarter valued at about $1,980,000. Stephens Investment Management Group LLC boosted its holdings in shares of Braze by 8.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,233,143 shares of the company’s stock valued at $42,284,000 after buying an additional 98,854 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Braze in the 1st quarter valued at about $14,294,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Braze by 232,716.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,111 shares of the company’s stock worth $3,433,000 after buying an additional 100,068 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BRZE. TD Cowen reissued a “buy” rating on shares of Braze in a research note on Monday, June 15th. The Goldman Sachs Group set a $34.00 price objective on Braze and gave the stock a “buy” rating in a report on Wednesday, June 24th. Canaccord Genuity Group lowered their target price on Braze from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Mizuho lowered their target price on Braze from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Finally, UBS Group reissued an “outperform” rating on shares of Braze in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.06.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.