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

Klaviyo, Inc. (NYSE:KVYO) traded 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. 401,674 shares traded hands during trading, a decline of 68% from the average session volume of 1,238,106 shares. The stock had previously closed at $44.26.

Several other equities research analysts have also recently commented on the company. Citigroup raised their target price on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Piper Sandler raised their target price on Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird raised their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley raised their price objective on Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Scotiabank raised their price objective on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $39.18, for a total transaction of $587,700.00. Following the transaction, the chief financial officer now owns 391,820 shares of the company’s stock, valued at $15,351,507.60. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the transaction, the insider now directly owns 298,607 shares in the company, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,536 shares of company stock valued at $4,720,953 over the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Klaviyo by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after acquiring an additional 646,628 shares during the period. Whale Rock Capital Management LLC lifted its holdings in Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after acquiring an additional 267,845 shares during the period. Bank of New York Mellon Corp lifted its holdings in Klaviyo by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock worth $120,676,000 after acquiring an additional 140,127 shares during the period. Clearbridge Investments LLC lifted its holdings in Klaviyo by 0.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock worth $89,422,000 after acquiring an additional 19,567 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Klaviyo by 48.6% during the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after acquiring an additional 635,962 shares during the period. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Price Performance

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

Klaviyo (NYSE:KVYO) last issued 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 during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. Equities analysts forecast 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.