Braze, Inc. (NASDAQ:BRZE) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group significantly reduced its stake in Braze, Inc. by 50.6%, now holding 22,050 shares valued at approximately $796,000.
• Insider sales saw Astha Malik and General Counsel Susan Wiseman offload a combined total of 13,787 shares, indicating a decrease in their ownership positions.
• Braze's stock recently traded at $27.29, with a twelve-month range of $25.22 to $48.33, and the company reported quarterly earnings of $0.07 per share, surpassing expectations.

Jefferies Financial Group Inc. lowered its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 50.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,050 shares of the company's stock after selling 22,550 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Braze were worth $796,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after purchasing an additional 405 shares during the period. GAMMA Investing LLC boosted its stake in shares of Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after buying an additional 517 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after acquiring an additional 827 shares during the period. Versant Capital Management Inc purchased a new position in Braze during the first quarter valued at approximately $54,000. Finally, IFP Advisors Inc raised its position in Braze by 15.3% during the first quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock valued at $122,000 after acquiring an additional 449 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company's stock.

Insider Buying and Selling

In other news, insider Astha Malik sold 9,001 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.01, for a total transaction of $270,120.01. Following the completion of the transaction, the insider directly owned 249,979 shares in the company, valued at approximately $7,501,869.79. This represents a 3.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 4,786 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $27.08, for a total transaction of $129,604.88. Following the completion of the sale, the general counsel owned 239,655 shares in the company, valued at approximately $6,489,857.40. This trade represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,270 shares of company stock valued at $2,749,255. 18.20% of the stock is currently owned by company insiders.

Braze Stock Performance

Shares of BRZE stock traded up $0.31 on Wednesday, hitting $27.29. 1,199,757 shares of the stock traded hands, compared to its average volume of 1,291,255. Braze, Inc. has a twelve month low of $25.22 and a twelve month high of $48.33. The stock has a market capitalization of $2.88 billion, a PE ratio of -27.02 and a beta of 1.10. The firm's 50-day moving average price is $29.10 and its two-hundred day moving average price is $33.78.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BRZE. Loop Capital dropped their price objective on shares of Braze from $75.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Raymond James Financial cut their price objective on shares of Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, June 6th. JMP Securities reissued a "market outperform" rating and set a $68.00 target price on shares of Braze in a research note on Friday, June 6th. Mizuho began coverage on Braze in a research report on Thursday, July 24th. They set an "outperform" rating and a $40.00 target price on the stock. Finally, Barclays reduced their price target on Braze from $70.00 to $47.00 and set an "overweight" rating for the company in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $45.50.

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.