Klaviyo (NYSE:KVYO) Trading Down 2.5% After Analyst Downgrade

Shares of Klaviyo, Inc. (NYSE:KVYO - Get Free Report) dropped 2.5% during mid-day trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $45.00 to $26.00. Wells Fargo & Company currently has an equal weight rating on the stock. Klaviyo traded as low as $23.92 and last traded at $24.04. Approximately 322,168 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,298,317 shares. The stock had previously closed at $24.67.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Klaviyo from $52.00 to $54.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Loop Capital upped their price objective on Klaviyo from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. The Goldman Sachs Group increased their target price on Klaviyo from $45.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Scotiabank upped their price target on shares of Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 29th. Finally, Citigroup raised their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Klaviyo currently has an average rating of "Moderate Buy" and an average target price of $46.05.

Insider Buying and Selling at Klaviyo

In related news, major shareholder Jeff Fagnan purchased 3,900 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the acquisition, the insider now owns 3,900 shares of the company's stock, valued at approximately $100,503. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 36,710 shares of Klaviyo stock in a transaction on Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the transaction, the president now directly owns 246,254 shares of the company's stock, valued at $8,638,590.32. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,088,770 shares of company stock worth $67,947,356 over the last 90 days. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several hedge funds have recently added to or reduced their stakes in KVYO. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock valued at $220,000 after buying an additional 359 shares during the period. Victory Capital Management Inc. boosted its holdings in Klaviyo by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock valued at $267,000 after acquiring an additional 604 shares during the period. Arizona State Retirement System grew its position in Klaviyo by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock valued at $695,000 after acquiring an additional 648 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Klaviyo by 5.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company's stock worth $589,000 after purchasing an additional 677 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Klaviyo by 77.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock worth $77,000 after purchasing an additional 818 shares during the period. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Price Performance

The firm has a 50-day moving average price of $33.98 and a two-hundred day moving average price of $38.00. The firm has a market capitalization of $6.55 billion, a P/E ratio of -133.39 and a beta of 1.39.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $270.16 million during the quarter, compared to analysts' expectations of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. Sell-side analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

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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