Braze , Inc. (NASDAQ:BRZE) Chief Technology Officer Jonathan Hyman has sold a total of 6,413 shares of the company's Class A common stock, in two separate transactions on May 16 and May 17, 2024. The transactions resulted in a combined total of approximately $267,817, with share prices ranging from $41.76 to $42.11.
The first transaction on May 16 involved the sale of 6,383 shares at a price of $41.76 per share. The following day, an additional 30 shares were sold at a price of $42.11 each. The sales were conducted under a non-discretionary sell-to-cover program that the company implemented to satisfy tax withholding obligations related to the vesting of restricted stock units.
Following these transactions, Hyman still holds a significant stake in the company, with 176,845 shares of Braze's Class A common stock remaining in his possession. It is important to note that out of these, 149,652 shares are represented by restricted stock units.
Investors may consider these transactions as part of their overall understanding of insider activity within the company. The sales were executed in accordance with existing tax obligations and are a routine part of stock compensation management for executives.
These filings provide transparency to shareholders and potential investors, offering insights into the actions of company insiders and their confidence in the firm's prospects. Braze, Inc., formerly known as Appboy, Inc., is a Delaware-incorporated company specializing in prepackaged software services, with headquarters in New York City.
InvestingPro Insights
Braze, Inc. (NASDAQ:BRZE) has been navigating a challenging market, reflected in its recent stock performance and the insider trading activities of its executives. As investors digest the news of CTO Jonathan Hyman's stock sale, it's crucial to consider the company's financial health and market position. Here are some key insights based on real-time data from InvestingPro:
The company's market capitalization stands at $4.24 billion, indicating its size and significance in the sector. Despite a lack of profitability in the last twelve months, Braze holds more cash than debt on its balance sheet, which can be a sign of financial stability and may reassure investors about the company's ability to manage its finances in the short term.
InvestingPro Data reveals that Braze's revenue growth was robust, at 32.74% for the last twelve months as of Q4 2024. This growth is a positive indicator of the company's ability to increase its sales and market reach. However, this top-line growth has not yet translated into bottom-line profitability, as evidenced by the negative P/E ratio of -32.56 and an operating income margin of -31.0%. Additionally, Braze's high Price / Book multiple of 9.54 suggests that the stock may be trading at a premium relative to the company's book value.
InvestingPro Tips highlight that while analysts have revised their earnings downwards for the upcoming period and do not anticipate the company will be profitable this year, Braze's liquid assets exceed its short-term obligations, which could provide some cushion against market volatility. Moreover, with a significant price drop over the last three months, investors might find the current valuation an interesting entry point, especially considering the company's strong revenue growth.
For those looking to delve deeper into Braze's financials and market prospects, InvestingPro offers additional insights and metrics. With a total of 8 more InvestingPro Tips available for Braze, investors can gain a more comprehensive understanding of the company's position. To access these valuable tips, consider subscribing to InvestingPro using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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