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

Klaviyo, Inc. (NYSE:KVYO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $36.95, but opened at $35.93. Klaviyo shares last traded at $35.21, with a volume of 385,369 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research report on Thursday, August 8th. Stifel Nicolaus began coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Robert W. Baird lifted their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC upped their price target on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Benchmark lowered their price objective on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Klaviyo Price Performance

The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of -195.33 and a beta of 1.13. The business’s fifty day simple moving average is $35.77 and its 200 day simple moving average is $29.16.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same period last year, the business posted ($1.24) EPS. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. Equities research analysts expect that Klaviyo, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 10,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares in the company, valued at approximately $12,566,002.36. This represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Summit Partners L. P sold 82,499 shares of Klaviyo stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.76, for a total transaction of $2,620,168.24. The disclosure for this sale can be found here. Insiders have sold a total of 398,996 shares of company stock worth $12,753,416 in the last ninety days. Corporate insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Lisanti Capital Growth LLC purchased a new position in Klaviyo in the third quarter valued at about $5,513,000. Janus Henderson Group PLC bought a new position in Klaviyo during the first quarter valued at $662,000. Swiss National Bank bought a new position in Klaviyo during the first quarter valued at $1,776,000. SpiderRock Advisors LLC increased its position in Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after buying an additional 471,500 shares during the last quarter. Finally, Pier 88 Investment Partners LLC bought a new stake in shares of Klaviyo in the third quarter valued at $966,000. 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.