Braze (NASDAQ:BRZE) CRO Sells $932,990.16 in Stock

Key Points

• Braze CRO Edward McDonnell sold 29,732 shares at an average price of $31.38, generating $932,990.16. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his direct ownership by 6.77% to 409,630 shares.
• Braze reported quarterly EPS of $0.10, matching estimates, while revenue of $211 million exceeded expectations and increased 30.2% year over year. Despite growth, the company posted a negative net margin of 15.51%.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $35.06 versus the stock’s cited price of $30.81. Institutional investors own approximately 90.47% of Braze’s outstanding shares.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) CRO Edward Mcdonnell sold 29,732 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.38, for a total transaction of $932,990.16. Following the transaction, the executive directly owned 409,630 shares of the company's stock, valued at $12,854,189.40. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Braze Stock Performance

NASDAQ:BRZE traded up $0.01 during mid-day trading on Wednesday, reaching $30.81. The stock had a trading volume of 1,800,063 shares, compared to its average volume of 2,957,225. Braze, Inc. has a twelve month low of $15.26 and a twelve month high of $37.33. The business has a 50 day simple moving average of $25.06 and a 200 day simple moving average of $22.48. The firm 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 - Get Free Report) last released its earnings results on Wednesday, May 27th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $211.00 million for the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm posted $0.07 EPS. As a group, sell-side analysts expect that Braze, Inc. will post -0.78 earnings per share for the current year.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of Braze in the fourth quarter valued at $27,000. Fifth Third Bancorp purchased a new position in Braze during the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in Braze by 3,650.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company's stock valued at $28,000 after acquiring an additional 803 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Braze during the second quarter worth about $36,000. Finally, Osaic Holdings Inc. raised its position 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 acquiring an additional 1,404 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on BRZE shares. DA Davidson reiterated a "buy" rating and issued a $33.00 price objective on shares of Braze in a research report on Thursday, May 28th. Weiss Ratings restated a "sell (e+)" rating on shares of Braze in a research report on Tuesday, July 7th. Piper Sandler reaffirmed an "overweight" rating and set a $27.00 price target on shares of Braze in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their price target on shares of Braze from $33.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Finally, Canaccord Genuity Group reduced their price objective on shares of Braze from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.

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