Myles Kleeger sells 25,000 shares of Braze, Inc. (NASDAQ: BRZE)
Insider Myles Kleeger of Braze, Inc. (NASDAQ:BRZE – Get Rating) sold 25,000 shares of the company in a trade that took place on Wednesday, August 10. The shares were sold at an average price of $50.12, for a total value of $1,253,000.00. Following the completion of the transaction, the insider now directly owns 70,000 shares of the company, valued at $3,508,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website.
Myles Kleeger also recently made the following trade(s):
On Wednesday, July 20, Myles Kleeger sold 10,897 Braze shares. The shares were sold at an average price of $46.09, for a total value of $502,242.73.
On Wednesday, July 13, Myles Kleeger sold 10,000 shares of Braze. The stock was sold at an average price of $42.23, for a total value of $422,300.00.
On Friday, July 8, Myles Kleeger sold 4,103 Braze shares. The stock was sold at an average price of $46.12, for a total value of $189,230.36.
On Tuesday, July 5, Myles Kleeger sold 15,000 shares of Braze. The stock was sold at an average price of $42.12, for a total value of $631,800.00.
On Thursday, June 16, Myles Kleeger sold 10,000 Braze shares. The stock was sold at an average price of $32.58, for a total value of $325,800.00.
Braze Trading up 3.4%
The NASDAQ BRZE opened at $49.90 on Friday. Braze, Inc. has a 12-month low of $27.09 and a 12-month high of $98.78. The stock has a fifty-day simple moving average of $40.61 and a 200-day simple moving average of $41.34.
Braze Inc (NASDAQ:BRZE – Get Rating) last released its quarterly results on Monday, June 13. The company reported ($0.37) earnings per share for the quarter, beating analyst consensus estimates of ($0.44) by $0.07. The company posted revenue of $77.50 million for the quarter, compared to $72.50 million expected by analysts. As a group, equity research analysts expect Braze, Inc. to post -1.5 earnings per share for the current year.
Hedge funds weigh on Braze
Several hedge funds have recently bought and sold shares of BRZE. Citadel Advisors LLC acquired a new position in Braze during Q4 worth approximately $22,150,000. Davidson Kempner Capital Management LP acquired a new position in Braze during Q4 worth approximately $776,000. Interwest Venture Management Co. acquired a new position in Braze during Q1 worth approximately $140,758,000. Sapphire Ventures LLC acquired a new position in Braze during Q4 worth approximately $134,674,000. Finally, LMR Partners LLP acquired a new position in Braze during the 4th quarter worth approximately $3,086,000. Institutional investors and hedge funds hold 23.64% of the company’s shares.
Wall Street analysts predict growth
Several research analysts have weighed in on the company recently. Loop Capital reduced its target price on Braze from $75.00 to $50.00 and set a “buy” rating for the company in a Wednesday, June 15 research note. Raymond James reduced his price target on Braze from $65.00 to $40.00 in a Tuesday, June 14 research note. Goldman Sachs Group cut its price target on Braze from $65.00 to $56.00 and set a “buy” rating for the company in a Wednesday, June 15 research note. JPMorgan Chase & Co. cut its price target on Braze from $65.00 to $42.00 in a Tuesday, June 14 research note. Finally, Cowen reduced its price target on Braze from $60.00 to $54.00 and set an “outperform” rating for the company in a Thursday, June 23 research note. Sixteen investment analysts have rated the stock with a buy rating. According to data from MarketBeat, the stock currently has a consensus buy rating and an average target price of $52.80.
Braze Company Profile
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Braze, Inc operates a customer engagement platform that enables interactions between consumers and brands around the world. It offers data ingestion products, such as Braze SDKs that automatically handle data ingestion and delivery of mobile and web notifications, in-app/in-browser interstitial messages, and content, and can also be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or trigger workflows between Braze and brands’ existing technology stacks; and Partner Cohort Sync, which allows brands to sync partner user cohorts.
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