Klaviyo (NYSE:KVYO) Trading Down 8.4% on Insider Selling

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s share price traded down 8.4% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $34.46 and last traded at $34.50. 601,610 shares changed hands during trading, a decline of 51% from the average session volume of 1,216,851 shares. The stock had previously closed at $37.66.

Specifically, President Stephen Eric Rowland sold 36,710 shares of Klaviyo 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KVYO shares. Barclays raised their price target on shares of Klaviyo from $47.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Robert W. Baird raised their target price on shares of Klaviyo from $52.00 to $54.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Piper Sandler upped their price target on Klaviyo from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Cantor Fitzgerald lifted their price objective on Klaviyo from $47.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their target price on Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $49.44.

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Klaviyo Price Performance

The business has a 50 day simple moving average of $42.72 and a 200 day simple moving average of $38.67. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of -181.58 and a beta of 0.86.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results 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 firm had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. On average, equities research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its position in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock valued at $48,000 after buying an additional 808 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in 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 purchasing an additional 1,102 shares during the period. Tower Research Capital LLC TRC grew its stake in Klaviyo by 77.5% during the 4th 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 in the last quarter. West Tower Group LLC acquired a new position in Klaviyo during the 3rd quarter worth $177,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Klaviyo during the 4th quarter worth about $196,000. Institutional investors and hedge funds own 45.43% of the company's stock.

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.