Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez Sells 1,500 Shares

Braze, Inc. (NASDAQ:BRZE) Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the transaction, the director now directly owns 15,269 shares in the company, valued at $633,052.74. This trade represents a 8.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Braze Stock Up 0.8 %

BRZE traded up $0.29 during trading on Tuesday, reaching $36.37. The company had a trading volume of 1,262,909 shares, compared to its average volume of 1,214,051. The business has a 50 day simple moving average of $39.50 and a 200-day simple moving average of $38.04. The stock has a market cap of $3.76 billion, a P/E ratio of -31.90 and a beta of 1.17. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $48.33.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the business earned ($0.04) EPS. The business’s revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Braze

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP purchased a new position in Braze during the 4th quarter valued at $50,000,000. California State Teachers Retirement System lifted its position in shares of Braze by 4.7% during the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock worth $2,434,000 after purchasing an additional 2,605 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Braze during the fourth quarter valued at $1,868,000. State of Wyoming bought a new position in shares of Braze in the fourth quarter worth about $197,000. Finally, ProShare Advisors LLC increased its stake in Braze by 33.8% in the 4th quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock worth $1,028,000 after buying an additional 6,200 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on BRZE. DA Davidson restated a “buy” rating and set a $50.00 target price on shares of Braze in a research note on Wednesday, March 26th. Oppenheimer restated an “outperform” rating and set a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. Citigroup upped their target price on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Finally, Stephens assumed coverage on Braze in a research report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price for the company. One research 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $53.00.

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.