Klaviyo (NYSE:KVYO) Shares Up 4.6% – Still a Buy?

Shares of Klaviyo, Inc. (NYSE:KVYO) traded up 4.6% during trading on Wednesday. The company traded as high as $17.32 and last traded at $17.3650. 3,581,294 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 5,627,454 shares. The stock had previously closed at $16.60.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KVYO shares. TD Cowen lowered their target price on Klaviyo from $27.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Wall Street Zen lowered Klaviyo from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays cut their price objective on Klaviyo from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of Klaviyo in a research note on Wednesday, September 2nd. Finally, Canaccord Genuity Group reduced their price target on shares of Klaviyo from $32.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

Klaviyo Price Performance

The company’s 50 day moving average is $17.51 and its two-hundred day moving average is $17.03. The firm has a market cap of $4.87 billion, a P/E ratio of 856.78 and a beta of 0.67.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The company had revenue of $370.58 million during the quarter, compared to analyst estimates of $362.08 million. During the same quarter last year, the business posted $0.16 earnings per share. The company’s revenue was up 26.4% on a year-over-year basis. Research analysts predict that Klaviyo, Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 14,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $18.47, for a total value of $258,580.00. Following the completion of the sale, the chief financial officer owned 824,192 shares in the company, valued at approximately $15,222,826.24. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Landon Edmond sold 53,473 shares of Klaviyo stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $20.01, for a total transaction of $1,069,994.73. Following the completion of the transaction, the insider directly owned 485,969 shares in the company, valued at approximately $9,724,239.69. The trade was a 9.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,177,986 shares of company stock worth $92,126,466 over the last 90 days. 37.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently modified their holdings of KVYO. Optiver Holding B.V. bought a new stake in shares of Klaviyo during the 1st quarter valued at $39,000. Rockefeller Capital Management L.P. boosted its stake in Klaviyo by 2,641.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company’s stock worth $104,000 after acquiring an additional 3,090 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Klaviyo by 2,085.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock worth $74,000 after buying an additional 3,628 shares during the period. Nykredit A S bought a new stake in Klaviyo during the 2nd quarter valued at $90,000. Finally, Headlands Technologies LLC bought a new position in Klaviyo in the 2nd quarter valued at about $173,000. 45.43% of the stock is owned by institutional investors.

Klaviyo Company Profile

Klaviyo, Inc (NYSE: KVYO) provides a marketing automation and customer data platform designed primarily for businesses that sell directly to consumers. Its software helps companies collect, organize and analyze customer data, then use that information to create targeted and personalized marketing campaigns.

The company’s platform supports email, SMS and mobile push messaging, as well as automated workflows, audience segmentation, customer analytics, sign-up forms and related campaign-management tools.