William Magnuson Sells 25,089 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CEO William Magnuson sold 25,089 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $900,193.32. Following the transaction, the chief executive officer now directly owns 745,769 shares in the company, valued at $26,758,191.72. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Braze Trading Up 0.7%

BRZE stock opened at $34.86 on Friday. The company has a market capitalization of $3.65 billion, a PE ratio of -30.58 and a beta of 1.15. Braze, Inc. has a 12-month low of $27.45 and a 12-month high of $48.33. The business’s fifty day moving average price is $33.10 and its 200 day moving average price is $37.94.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. Research analysts predict that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Braze

Several institutional investors and hedge funds have recently modified their holdings of BRZE. Barclays PLC raised its holdings in shares of Braze by 148.1% in the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after buying an additional 64,093 shares during the period. KBC Group NV increased its holdings in Braze by 39.7% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after purchasing an additional 832 shares during the period. Stephens Investment Management Group LLC increased its holdings in Braze by 20.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock worth $32,343,000 after purchasing an additional 129,298 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Braze during the 4th quarter worth about $165,000. Finally, Principal Financial Group Inc. purchased a new stake in Braze during the 4th quarter worth about $236,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup boosted their price objective on Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Piper Sandler lowered their price objective on Braze from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group boosted their price objective on Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Barclays lowered their price objective on Braze from $70.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Finally, Stephens started coverage on Braze in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price target on the stock. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $50.10.

About Braze

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.