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

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

Analysts Set New Price Targets

KVYO has been the subject of a number of recent analyst reports. Scotiabank raised their price target on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Mizuho lifted their target price on shares of Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Robert W. Baird lifted their target price on shares of Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Morgan Stanley lifted their target price on shares of Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their target price on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Stock Performance

The firm has a market capitalization of $9.11 billion, a PE ratio of -185.31 and a beta of 0.86. The company’s 50-day moving average price is $42.05 and its 200-day moving average price is $38.61.

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

Insider Transactions at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.18, for a total value of $587,700.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares of the company’s stock, valued at $15,351,507.60. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 111,246 shares of company stock valued at $4,416,858. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alpha Wealth Funds LLC acquired a new stake in shares of Klaviyo during the fourth quarter worth about $209,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of Klaviyo during the fourth quarter worth about $397,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Klaviyo by 76.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,178 shares of the company’s stock worth $4,338,000 after buying an additional 45,523 shares during the period. Voloridge Investment Management LLC boosted its stake in shares of Klaviyo by 15.7% during the fourth quarter. Voloridge Investment Management LLC now owns 922,832 shares of the company’s stock worth $38,058,000 after buying an additional 125,352 shares during the period. Finally, Washington Harbour Partners LP acquired a new stake in shares of Klaviyo during the fourth quarter worth about $1,794,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.