Astha Malik Sells 9,001 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Key Points

• Astha Malik, an insider at Braze, Inc., sold 9,001 shares of the company's stock for a total of approximately $270,120, resulting in a 3.48% decrease in their ownership.
• Braze's stock price recently fell by 3.2%, trading at $28.66, which is below its 12-month high of $48.33.
• Analysts provide a consensus rating of "Moderate Buy" for Braze, with an average price target of $45.50, indicating expected growth in the company's stock value.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) insider Astha Malik sold 9,001 shares of Braze stock in a transaction on Monday, July 28th. The shares were sold at an average price of $30.01, for a total value of $270,120.01. Following the completion of the transaction, the insider owned 249,979 shares in the company, valued at approximately $7,501,869.79. The trade was a 3.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Astha Malik also recently made the following trade(s):

• On Monday, May 19th, Astha Malik sold 13,460 shares of Braze stock. The stock was sold at an average price of $35.88, for a total value of $482,944.80.

Braze Stock Down 6.0%

NASDAQ BRZE traded down $1.67 on Friday, reaching $26.20. 1,258,504 shares of the stock traded hands, compared to its average volume of 1,255,589. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -25.94 and a beta of 1.10. The firm's fifty day simple moving average is $29.43 and its 200 day simple moving average is $34.09. Braze, Inc. has a 12 month low of $25.22 and a 12 month high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Braze had a negative net margin of 16.76% and a negative return on equity of 18.89%. The firm had revenue of $162.06 million for the quarter, compared to the consensus estimate of $158.60 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The business's quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts forecast that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on BRZE. DA Davidson reduced their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Raymond James Financial reduced their target price on Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. Piper Sandler decreased their price objective on Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Oppenheimer dropped their price target on Braze from $44.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Finally, Mizuho began coverage on Braze in a research note on Thursday, July 24th. They issued an "outperform" rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $45.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its holdings in Braze by 1.4% in the 1st quarter. US Bancorp DE now owns 21,314 shares of the company's stock valued at $769,000 after buying an additional 302 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Braze by 2.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock valued at $559,000 after buying an additional 316 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after buying an additional 405 shares in the last quarter. IFP Advisors Inc grew its holdings in Braze by 15.3% in the 1st quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock valued at $122,000 after buying an additional 449 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after acquiring an additional 517 shares during the period. Institutional investors own 90.47% of the company's stock.

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.