Klaviyo (NYSE:KVYO) Shares Down 6% – Here’s What Happened

Klaviyo, Inc. (NYSE:KVYO)’s share price dropped 6% during trading on Thursday . The company traded as low as $33.17 and last traded at $32.54. Approximately 115,178 shares were traded during mid-day 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 topic of several recent analyst reports. Scotiabank lifted their price target on Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Robert W. Baird upped their price objective on shares of Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Morgan Stanley lifted their target price on Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Citigroup upped their price target on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald boosted their price target on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Trading Down 5.5 %

The firm has a market cap of $8.93 billion, a P/E ratio of -181.56 and a beta of 0.86. The business has a 50-day moving average of $42.43 and a two-hundred day moving average of $38.65.

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

Insider Transactions at Klaviyo

In other news, President Stephen Eric Rowland sold 36,710 shares of the company’s stock in a transaction 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 transaction, the president now owns 246,254 shares of the company’s stock, valued at $8,638,590.32. This represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $39.39, for a total transaction of $590,850.00. Following the sale, the chief financial officer now owns 391,820 shares in the company, valued at $15,433,789.80. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,246 shares of company stock worth $5,007,708. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Klaviyo by 9.1% in the fourth 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 in the last quarter. Whale Rock Capital Management LLC boosted its stake in Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after purchasing an additional 267,845 shares during the period. Bank of New York Mellon Corp grew its holdings in Klaviyo by 5.0% during 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 buying an additional 140,127 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Klaviyo by 0.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after buying an additional 19,567 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Klaviyo by 48.6% in the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after buying an additional 635,962 shares in the last quarter. 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.