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

Shares of Klaviyo, Inc. (NYSE:KVYO) traded down 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. 322,168 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,298,317 shares. The stock had previously closed at $24.67.

Several other analysts have also recently issued reports on the company. William Blair restated an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Canaccord Genuity Group raised their price objective on shares of Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus lifted their target price on shares of Klaviyo from $45.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Stephens initiated coverage on shares of Klaviyo in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price target for the company. Finally, Robert W. Baird lifted their price target on shares of Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.05.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $26.70, for a total transaction of $400,500.00. Following the completion of the transaction, the chief financial officer now directly owns 553,943 shares of the company’s stock, valued at approximately $14,790,278.10. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Stephen Eric Rowland sold 7,060 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total transaction of $188,219.60. Following the completion of the sale, the president now directly owns 447,310 shares in the company, valued at approximately $11,925,284.60. This trade represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,088,770 shares of company stock worth $67,947,356 in the last ninety days. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its position in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 buying an additional 818 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo during the 4th quarter worth about $196,000. US Bancorp DE purchased a new position in shares of Klaviyo in the 4th quarter valued at about $199,000. Finally, Keybank National Association OH acquired a new stake in shares of Klaviyo during the 4th quarter worth about $203,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Down 1.0 %

The company has a market cap of $6.67 billion, a price-to-earnings ratio of -135.68 and a beta of 1.39. The business’s fifty day simple moving average is $33.51 and its two-hundred day simple moving average is $37.90.

Klaviyo (NYSE:KVYO) last announced its quarterly 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 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 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.