Braze (NASDAQ:BRZE) CTO Sells 10,000 Shares

Braze, Inc. (NASDAQ:BRZE) CTO Jonathan Hyman sold 10,000 shares of Braze stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $31.04, for a total transaction of $310,400.00. Following the completion of the sale, the chief technology officer directly owned 1,185,219 shares of the company’s stock, valued at $36,789,197.76. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 stock was 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

Braze stock traded up $0.01 during trading on Wednesday, hitting $30.81. The company’s stock had a trading volume of 1,800,063 shares, compared to its average volume of 2,957,225. The stock’s fifty day moving average is $25.06 and its 200 day moving average is $22.48. Braze, Inc. has a 1-year low of $15.26 and a 1-year high of $37.33. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -27.51 and a beta of 0.83.

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

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently modified their holdings of BRZE. NBC Securities Inc. purchased a new stake in shares of Braze during the 4th quarter worth about $27,000. Fifth Third Bancorp purchased a new position in Braze in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its position in Braze by 3,650.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock valued at $28,000 after buying an additional 803 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Braze during the second quarter valued at approximately $36,000. Finally, Osaic Holdings Inc. grew its stake in Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after buying an additional 1,404 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BRZE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braze in a report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their target price on shares of Braze from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, July 6th. TD Cowen reaffirmed a “buy” rating on shares of Braze in a research note on Monday, June 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 price target on shares of Braze in a report on Thursday, May 28th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $27.00 price target on shares of Braze in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.06.

About Braze

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.