Insider Selling: Braze, Inc. (NASDAQ:BRZE) CTO Sells $42,440.00 in Stock

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 1,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $42.44, for a total value of $42,440.00. Following the completion of the sale, the chief technology officer now directly owns 183,258 shares of the company’s stock, valued at $7,777,469.52. The sale was disclosed in a filing with the SEC, which is available at this link.

Jonathan Hyman also recently made the following trade(s):

• On Friday, February 16th, Jonathan Hyman sold 3,730 shares of Braze stock. The stock was sold at an average price of $57.51, for a total transaction of $214,512.30.

Braze Price Performance

Shares of BRZE traded down $0.49 during mid-day trading on Tuesday, reaching $42.08. The company had a trading volume of 884,367 shares, compared to its average volume of 842,469. The company has a market capitalization of $4.24 billion, a P/E ratio of -32.01 and a beta of 1.13. Braze, Inc. has a twelve month low of $27.98 and a twelve month high of $61.53. The company’s 50-day moving average is $46.80 and its 200-day moving average is $50.38.

Braze (NASDAQ:BRZE) last issued its earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.02. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. The company had revenue of $130.96 million for the quarter, compared to the consensus estimate of $124.55 million. As a group, equities analysts expect that Braze, Inc. will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Braze

Institutional investors have recently bought and sold shares of the business. Fred Alger Management LLC bought a new position in Braze in the 3rd quarter worth approximately $29,000. BluePath Capital Management LLC acquired a new position in shares of Braze during the third quarter valued at $31,000. Neo Ivy Capital Management bought a new position in Braze in the fourth quarter valued at about $40,000. Canton Hathaway LLC acquired a new stake in Braze in the fourth quarter worth about $42,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Braze during the third quarter worth approximately $61,000. Institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group cut their target price on shares of Braze from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Thursday, March 28th. JPMorgan Chase & Co. lowered their target price on Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, March 28th. Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price target on shares of Braze in a research note on Thursday, March 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.12.

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.