Klaviyo (NYSE:KVYO) Shares Down 6% - Should You Sell?

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) traded down 6% during mid-day trading on Thursday . The stock traded as low as $33.17 and last traded at $32.54. 115,178 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,219,432 shares. The stock had previously closed at $34.60.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Benchmark upped their target price on Klaviyo from $40.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. The Goldman Sachs Group upped their target price on shares of Klaviyo from $45.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Loop Capital boosted their price target on Klaviyo from $45.00 to $60.00 and gave the company a "buy" rating in a report on Monday, December 23rd. Stifel Nicolaus lifted their target price on Klaviyo from $45.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their price objective on Klaviyo from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.44.

Klaviyo Price Performance

The firm has a market cap of $8.93 billion, a price-to-earnings ratio of -181.56 and a beta of 0.86. The business's 50-day moving average price is $42.43 and its two-hundred day moving average price is $38.65.

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Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. As a group, sell-side analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the sale, the chief financial officer now owns 376,820 shares of the company's stock, valued at approximately $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Stephen Eric Rowland sold 36,710 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $35.08, for a total value of $1,287,786.80. Following the transaction, the president now owns 246,254 shares of the company's stock, valued at approximately $8,638,590.32. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,246 shares of company stock valued at $5,007,708 over the last quarter. Insiders own 53.24% of the company's stock.

Institutional Trading of Klaviyo

Several hedge funds have recently added to or reduced their stakes in KVYO. Advisors Asset Management Inc. increased its holdings in shares of Klaviyo by 145.6% during 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 period. CIBC Private Wealth Group LLC boosted its holdings in shares of Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after acquiring an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock valued at $77,000 after purchasing an additional 818 shares during the period. West Tower Group LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth $177,000. Finally, SBI Securities Co. Ltd. acquired a new position in Klaviyo during the fourth quarter worth about $196,000. 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.

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