Braze (NASDAQ:BRZE) CTO Jonathan Hyman Sells 10,000 Shares of Stock

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.04, for a total transaction of $310,400.00. Following the transaction, the chief technology officer directly owned 1,185,219 shares in the company, valued at $36,789,197.76. This trade represents a 0.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 19th, Jonathan Hyman sold 9,413 shares of Braze stock. The shares were sold at an average price of $29.99, for a total value of $282,295.87.
• On Thursday, August 13th, Jonathan Hyman sold 35,000 shares of Braze stock. The stock was sold at an average price of $30.03, for a total value of $1,051,050.00.
• On Monday, August 10th, Jonathan Hyman sold 10,148 shares of Braze stock. The stock was sold at an average price of $27.27, for a total value of $276,735.96.
• On Friday, August 7th, Jonathan Hyman sold 17,895 shares of Braze stock. The shares were sold at an average price of $27.03, for a total value of $483,701.85.

Braze Stock Performance

Shares of Braze stock opened at $30.81 on Thursday. The stock has a market capitalization of $3.47 billion, a PE ratio of -27.51 and a beta of 0.83. Braze, Inc. has a 52 week low of $15.26 and a 52 week high of $37.33. The stock has a 50 day moving average price of $25.28 and a two-hundred day moving average price of $22.57.

Braze (NASDAQ:BRZE) last issued its earnings results on Wednesday, May 27th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Braze had a negative return on equity of 17.52% and a negative net margin of 15.51%.The company had revenue of $211.00 million for the quarter, compared to analyst estimates of $205.19 million. During the same period in the prior year, the firm earned $0.07 earnings per share. Braze’s revenue for the quarter was up 30.2% on a year-over-year basis. Research analysts forecast that Braze, Inc. will post -0.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BRZE shares. Piper Sandler reiterated an “overweight” rating and set a $27.00 price objective on shares of Braze in a report on Thursday, May 28th. UBS Group restated an “outperform” rating on shares of Braze in a report on Thursday, May 28th. Mizuho cut their price target on Braze from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, May 28th. Canaccord Genuity Group decreased their price objective on Braze from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. increased their price objective on Braze from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Braze in the 4th quarter worth about $27,000. Fifth Third Bancorp bought a new position in shares of Braze during the 1st quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Braze by 3,650.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock worth $28,000 after buying an additional 803 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of Braze in the 2nd quarter worth approximately $36,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after acquiring an additional 1,404 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.