Klaviyo (NYSE:KVYO) Shares Down 6% – Should You Sell?

Klaviyo, Inc. (NYSE:KVYO) fell 6% during mid-day trading on Thursday . The stock traded as low as $33.17 and last traded at $32.54. 115,178 shares changed hands during trading, a decline of 91% from the average session volume of 1,219,432 shares. The stock had previously closed at $34.60.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KVYO. The Goldman Sachs Group increased their price target on shares of Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus increased their price target on shares of Klaviyo from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Mizuho increased their price target on shares of Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Needham & Company LLC increased their price target on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, KeyCorp increased their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Trading Up 4.2 %

The stock’s 50 day moving average price is $42.05 and its two-hundred day moving average price is $38.61. The firm has a market capitalization of $9.11 billion, a PE ratio of -185.31 and a beta of 0.86.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. Analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the sale, the insider now owns 298,607 shares in the company, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 36,710 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the sale, the president now owns 246,254 shares in the company, valued at approximately $8,638,590.32. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,246 shares of company stock worth $4,416,858. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after purchasing an additional 646,628 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock valued at $159,535,000 after purchasing an additional 267,845 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Klaviyo by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock valued at $120,676,000 after purchasing an additional 140,127 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Klaviyo by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after purchasing an additional 19,567 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Klaviyo by 48.6% in the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock valued at $80,151,000 after purchasing an additional 635,962 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

About Klaviyo

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.