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

Key Points

• Braze CTO Jonathan Hyman sold 10,000 shares at an average price of $31.04, generating $310,400 under a pre-arranged Rule 10b5-1 trading plan. He retains 1,185,219 shares, and has made several additional sales in August.
• Braze shares traded near $30.81, with a $3.47 billion market capitalization, after reporting quarterly revenue of $211 million—up 30.2% year over year—and adjusted earnings in line with estimates.
• Analysts remain broadly bullish, with 18 Buy ratings and one Strong Buy versus one Sell; the consensus price target is $35.06. Institutional investors own approximately 90.47% of the company.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) CTO Jonathan Hyman sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.04, for a total transaction of $310,400.00. Following the sale, the chief technology officer owned 1,185,219 shares of the company's stock, valued at $36,789,197.76. This trade represents a 0.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 shares were 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 shares were sold at an average price of $30.03, for a total transaction 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 transaction of $276,735.96.
• On Friday, August 7th, Jonathan Hyman sold 17,895 shares of Braze stock. The stock was sold at an average price of $27.03, for a total transaction of $483,701.85.

Braze Trading Up 0.0%

Shares of NASDAQ:BRZE traded up $0.01 during midday trading on Wednesday, hitting $30.81. The stock had a trading volume of 1,800,063 shares, compared to its average volume of 2,957,225. The company has a market capitalization of $3.47 billion, a PE ratio of -27.51 and a beta of 0.83. The stock has a 50 day moving average price of $25.06 and a two-hundred day moving average price of $22.48. Braze, Inc. has a 1 year low of $15.26 and a 1 year high of $37.33.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly 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 firm had revenue of $211.00 million during the quarter, compared to analysts' expectations of $205.19 million. Braze had a negative net margin of 15.51% and a negative return on equity of 17.52%. The firm's revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, equities analysts expect that Braze, Inc. will post -0.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Cowen reissued a "buy" rating on shares of Braze in a research note on Monday, June 15th. UBS Group reiterated an "outperform" rating on shares of Braze in a research report on Thursday, May 28th. Citigroup decreased their target price on shares of Braze from $49.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, May 29th. The Goldman Sachs Group set a $34.00 price target on shares of Braze and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Finally, Canaccord Genuity Group cut their price target on shares of Braze from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $35.06.

Institutional Investors Weigh In On Braze

A number of large investors have recently added to or reduced their stakes in BRZE. Vanguard Group Inc. increased its position in Braze by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company's stock worth $337,793,000 after purchasing an additional 892,635 shares in the last quarter. Dana Investment Advisors Inc. purchased a new position in Braze in the 4th quarter valued at about $1,980,000. Stephens Investment Management Group LLC boosted its stake in shares of Braze by 8.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,233,143 shares of the company's stock worth $42,284,000 after purchasing an additional 98,854 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Braze during the 1st quarter worth about $14,294,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Braze by 232,716.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 100,111 shares of the company's stock worth $3,433,000 after buying an additional 100,068 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

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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