Interactive Brokers shares jump as it secures spot in S&P 500
Myles Kleeger, President and Chief Customer Officer of Braze , Inc. (NASDAQ:BRZE), a $4.3 billion market cap company showing strong revenue growth of 28% year-over-year, recently sold a significant portion of his holdings in the company, according to a regulatory filing. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt. Over the course of two transactions on February 18 and February 20, Kleeger sold a total of 15,514 shares of Class A common stock.
The first transaction involved the sale of 7,149 shares at an average price of $40.82 per share, amounting to $291,822. The second transaction saw Kleeger selling 8,365 shares at prices ranging from $39.53 to $40.57, totaling $335,630.
Following these sales, Kleeger retains ownership of 168,882 shares, with 160,104 of these represented by restricted stock units. The transactions were conducted under a pre-arranged trading plan adopted on December 29, 2023. For deeper insights into Braze’s financial health and extensive analysis, including additional ProTips and detailed metrics, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Braze Inc. has been the subject of several analyst reports highlighting key developments. JMP Securities maintained a Market Outperform rating with a price target of $68, citing record bookings and anticipated strong revenue and performance obligations in the upcoming quarter. Meanwhile, Raymond (NSE:RYMD) James reiterated its Outperform rating with a $48 price target, noting Braze’s recent management changes and record fourth-quarter bookings. Needham adjusted its price target to $50 from $70, retaining a Buy rating after Braze’s third-quarter earnings showed modest revenue outperformance and growth in performance obligations. Piper Sandler increased its price target to $48 from $44, maintaining an Overweight rating following Braze’s solid third-quarter results and significant enterprise customer engagement. Lastly, DA Davidson reduced its price target from $55 to $50 while maintaining a Buy rating, pointing to positive trends and stabilization in dollar-based net retention. These analyst insights reflect a mix of confidence and caution as Braze continues to navigate market dynamics and strategic initiatives.
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