Klaviyo (NYSE:KVYO) Stock Price Down 2.4% – Should You Sell?

Klaviyo, Inc. (NYSE:KVYO)’s share price was down 2.4% during trading on Wednesday . The stock traded as low as $36.29 and last traded at $36.54. Approximately 55,942 shares changed hands during trading, a decline of 95% from the average daily volume of 1,139,198 shares. The stock had previously closed at $37.42.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KVYO shares. Cantor Fitzgerald increased their price objective on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research report on Thursday, August 8th. Robert W. Baird raised their target price on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company began coverage on Klaviyo in a research report on Wednesday. They issued an “equal weight” rating and a $37.00 target price on the stock. Finally, Piper Sandler raised their target price on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Klaviyo Trading Down 2.1 %

The firm has a 50 day moving average of $32.73 and a 200-day moving average of $26.94. The company has a market cap of $9.69 billion and a P/E ratio of -26.54.

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

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $35.36, for a total transaction of $353,600.00. Following the completion of the transaction, the chief financial officer now owns 422,813 shares in the company, valued at $14,950,667.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction that occurred on Monday, August 12th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $35.36, for a total value of $353,600.00. Following the completion of the transaction, the chief financial officer now owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 853,363 shares of company stock worth $26,937,202 in the last quarter. 53.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently modified their holdings of KVYO. Goldman Sachs Group Inc. boosted its holdings in shares of Klaviyo by 243.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after purchasing an additional 1,042,902 shares during the period. Moody National Bank Trust Division boosted its holdings in Klaviyo by 87.9% during the 1st quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock valued at $398,000 after acquiring an additional 7,316 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Klaviyo by 161.1% during the 1st quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after acquiring an additional 1,450 shares during the period. Claro Advisors LLC purchased a new position in Klaviyo during the 1st quarter valued at $23,510,000. Finally, Mayflower Financial Advisors LLC purchased a new position in Klaviyo during the 1st quarter valued at $6,203,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.