Insider Selling: Braze (NASDAQ:BRZE) CTO Sells 42,000 Shares

Key Points

• Braze CTO Jonathan Hyman sold 42,000 shares at an average price of $32.47, generating $1.36 million; the transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his stake by 3.54%.
• Braze shares rose 1.3% to $34.53, near their one-year high of $37.33. The company recently reported $211 million in quarterly revenue, up 30.2% year over year, and matched earnings expectations at $0.10 per share.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $35.76; institutional investors own approximately 90.47% of the company.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) CTO Jonathan Hyman sold 42,000 shares of Braze stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $32.47, for a total transaction of $1,363,740.00. Following the sale, the chief technology officer directly owned 1,143,219 shares in the company, valued at approximately $37,120,320.93. This trade represents a 3.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Monday, August 24th, Jonathan Hyman sold 10,000 shares of Braze stock. The stock was sold at an average price of $31.04, for a total transaction of $310,400.00.
• On Wednesday, August 19th, Jonathan Hyman sold 9,413 shares of Braze stock. The stock was sold at an average price of $29.99, for a total transaction of $282,295.87.
• On Thursday, August 13th, Jonathan Hyman sold 35,000 shares of Braze stock. The stock was 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 shares were 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 shares were sold at an average price of $27.03, for a total transaction of $483,701.85.

Braze Stock Up 1.3%

BRZE traded up $0.44 during trading on Friday, reaching $34.53. The company's stock had a trading volume of 1,868,854 shares, compared to its average volume of 2,951,800. The firm has a fifty day simple moving average of $25.56 and a two-hundred day simple moving average of $22.69. Braze, Inc. has a 1 year low of $15.26 and a 1 year high of $37.33. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -30.83 and a beta of 0.83.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Braze had a negative return on equity of 17.52% and a negative net margin of 15.51%.The business had revenue of $211.00 million for the quarter, compared to analysts' expectations of $205.19 million. During the same period in the previous year, the firm posted $0.07 EPS. The business's revenue for the quarter was up 30.2% compared to the same quarter last year. As a group, equities analysts forecast that Braze, Inc. will post -0.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group restated an "outperform" rating on shares of Braze in a report on Thursday, May 28th. Piper Sandler reiterated an "overweight" rating and set a $27.00 price target on shares of Braze in a report on Thursday, May 28th. Oppenheimer boosted their price target on shares of Braze from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $38.00 price objective on shares of Braze in a report on Thursday, May 28th. Finally, DA Davidson restated a "buy" rating and set a $33.00 price objective on shares of Braze in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.76.

Institutional Investors Weigh In On Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. NBC Securities Inc. purchased a new position in shares of Braze during the 4th quarter worth $27,000. Fifth Third Bancorp purchased a new stake in Braze in the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its holdings in Braze by 3,650.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company's stock valued at $28,000 after buying an additional 803 shares during the period. Harbor Investment Advisory LLC acquired a new position in Braze in the second quarter valued at about $36,000. Finally, Osaic Holdings Inc. boosted its stake 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 buying an additional 1,404 shares during the period. Hedge funds and other institutional investors own 90.47% of the company's stock.

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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