Klaviyo (NYSE:KVYO) Trading Down 6.6% Following Analyst Downgrade

Klaviyo, Inc. (NYSE:KVYO) was down 6.6% during trading on Friday after Wells Fargo & Company lowered their price target on the stock from $48.00 to $45.00. Wells Fargo & Company currently has an equal weight rating on the stock. Klaviyo traded as low as $41.53 and last traded at $41.36. Approximately 401,674 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 1,238,106 shares. The stock had previously closed at $44.26.

A number of other brokerages have also commented on KVYO. Citigroup upped their price objective on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. KeyCorp increased their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Morgan Stanley increased their target price on Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Robert W. Baird increased 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. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Insider Buying and Selling

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the transaction, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the transaction, the chief financial officer now owns 395,616 shares of the company’s stock, valued at $15,852,333.12. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock worth $4,720,953 in the last ninety days. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several large investors have recently bought and sold shares of KVYO. Advisors Asset Management Inc. raised its position in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after acquiring an additional 818 shares during the last quarter. West Tower Group LLC bought a new position in shares of Klaviyo during the third quarter worth about $177,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Klaviyo during the fourth quarter worth about $196,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Price Performance

The company has a market capitalization of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60. The stock has a 50-day moving average price of $43.72 and a 200-day moving average price of $37.92.

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 positive return on equity of 0.90% and a negative net margin of 4.92%. The company had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.