Klaviyo (NYSE:KVYO) Shares Down 2.4% – Here’s Why

Klaviyo, Inc. (NYSE:KVYO) shares fell 2.4% during mid-day trading on Wednesday . The stock traded as low as $36.29 and last traded at $36.54. 55,942 shares changed hands during trading, a decline of 95% from the average session volume of 1,139,198 shares. The stock had previously closed at $37.42.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on KVYO shares. Robert W. Baird raised their target price on shares of Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Wells Fargo & Company started coverage on Klaviyo in a research note on Wednesday. They set an “equal weight” rating and a $37.00 price objective on the stock. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research note on Thursday, August 8th. Benchmark began coverage on Klaviyo in a research report on Monday, September 30th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Cantor Fitzgerald increased their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.87.

Klaviyo Stock Performance

The company has a market capitalization of $9.88 billion and a price-to-earnings ratio of -26.50. The company’s fifty day simple moving average is $33.14 and its two-hundred day simple moving average is $27.08.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. Sell-side analysts anticipate that Klaviyo, Inc. will post -0.01 EPS for the current year.

Insider Activity

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.59, for a total value of $4,106,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total value of $4,106,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Summit Partners L. P sold 242,601 shares of Klaviyo stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 871,477 shares of company stock worth $27,610,861. 53.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

Large investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of Klaviyo during the third quarter worth about $53,000. William Marsh Rice University acquired a new position in Klaviyo during the 3rd quarter valued at about $245,000. Renaissance Capital LLC grew its position in Klaviyo by 134.6% in the 3rd quarter. Renaissance Capital LLC now owns 78,401 shares of the company’s stock worth $2,774,000 after purchasing an additional 44,977 shares during the last quarter. Cabot Wealth Management Inc. increased its stake in shares of Klaviyo by 101.1% in the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock valued at $3,199,000 after purchasing an additional 45,451 shares during the period. Finally, Creative Planning bought a new stake in shares of Klaviyo during the third quarter valued at approximately $254,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Company Profile

Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure.