Klaviyo (NYSE:KVYO) Trading Down 3.9% – Should You Sell?

Klaviyo, Inc. (NYSE:KVYO) fell 3.9% on Thursday . The stock traded as low as $15.73 and last traded at $15.5910. 2,094,987 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 5,560,587 shares. The stock had previously closed at $16.23.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Truist Financial cut their price target on shares of Klaviyo from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Stifel Nicolaus set a $22.00 price objective on Klaviyo in a research note on Thursday, September 10th. Canaccord Genuity Group decreased their target price on Klaviyo from $32.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Mizuho set a $28.00 target price on Klaviyo in a research note on Thursday, August 6th. Finally, Scotiabank set a $32.00 target price on Klaviyo in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.14.

Klaviyo Trading Down 3.0%

The stock has a market cap of $4.38 billion, a PE ratio of 770.24 and a beta of 0.57. The company’s 50 day moving average is $17.90 and its 200-day moving average is $17.36.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $362.08 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, analysts forecast that Klaviyo, Inc. will post 0.2 EPS for the current year.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 5,000,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $17.71, for a total transaction of $88,550,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 14,000 shares of Klaviyo 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 transaction, the chief financial officer owned 824,192 shares of the company’s stock, valued at $15,222,826.24. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 5,176,686 shares of company stock worth $92,104,340 over the last ninety days. Insiders own 37.42% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. bought a new position in Klaviyo during the 1st quarter worth $39,000. Rockefeller Capital Management L.P. raised its holdings 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 purchasing an additional 3,090 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Klaviyo by 2,085.1% in the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock worth $74,000 after purchasing an additional 3,628 shares during the period. Nykredit A S bought a new position in Klaviyo during the 2nd quarter valued at $90,000. Finally, Mach 1 Financial Group LLC bought a new position in Klaviyo during the 4th quarter valued at $208,000. 45.43% of the stock is owned by institutional investors.

About Klaviyo

Klaviyo, Inc is a technology company that provides a customer data and marketing automation platform for businesses. Its software helps brands collect, organize and analyze customer information, then use those insights to create targeted communications and personalized marketing campaigns.

The company’s platform supports marketing channels including email, SMS messaging, mobile push notifications and on-site experiences. Klaviyo also provides tools for customer segmentation, campaign automation, analytics and reporting, and integrates with e-commerce, payment and other business applications.

Klaviyo primarily serves consumer-focused businesses, including e-commerce brands, retailers and other companies seeking to build direct relationships with customers.