Klaviyo (NYSE:KVYO) Stock Falls 5.9% – Time to Sell?

Shares of Klaviyo, Inc. (NYSE:KVYO) dropped 5.9% on Monday. The stock traded as low as $14.77 and last traded at $14.8650. 1,538,432 shares traded hands during trading, a decline of 73% from the average daily volume of 5,624,681 shares. The stock had previously closed at $15.80.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler decreased their price target on Klaviyo from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 target price on shares of Klaviyo in a research note on Thursday, August 6th. Stifel Nicolaus set a $22.00 price objective on shares of Klaviyo in a research note on Thursday, September 10th. KeyCorp cut their target price on Klaviyo from $35.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings raised Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

Klaviyo Stock Down 4.2%

The business’s 50-day simple moving average is $17.74 and its two-hundred day simple moving average is $17.21. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 753.58 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $370.58 million during the quarter, compared to analysts’ expectations of $362.08 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. Klaviyo’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 EPS. On average, analysts expect that Klaviyo, Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, Director Ed Hallen sold 98,782 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $20.48, for a total transaction of $2,023,055.36. Following the transaction, the director owned 94,457 shares in the company, valued at $1,934,479.36. The trade was a 51.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Landon Edmond sold 8,103 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $20.44, for a total transaction of $165,625.32. Following the transaction, the insider directly owned 477,866 shares of the company’s stock, valued at approximately $9,767,581.04. This represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 5,177,986 shares of company stock worth $92,126,466. Corporate insiders own 37.42% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several hedge funds have recently modified their holdings of KVYO. Optiver Holding B.V. purchased a new stake in shares of Klaviyo during the 1st quarter worth about $39,000. Rockefeller Capital Management L.P. increased its position in shares of Klaviyo by 2,641.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company’s stock worth $104,000 after acquiring an additional 3,090 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Klaviyo by 2,085.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock worth $74,000 after purchasing an additional 3,628 shares during the period. Nykredit A S acquired a new position in shares of Klaviyo in the second quarter valued at about $90,000. Finally, Headlands Technologies LLC bought a new position in Klaviyo in the 2nd quarter valued at about $173,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

About Klaviyo

Klaviyo, Inc is a technology company that provides a customer data and marketing automation platform for businesses. Its software helps brands collect, organize and analyze customer information, then use those insights to create targeted communications and personalized marketing campaigns.

The company’s platform supports marketing channels including email, SMS messaging, mobile push notifications and on-site experiences. Klaviyo also provides tools for customer segmentation, campaign automation, analytics and reporting, and integrates with e-commerce, payment and other business applications.

Klaviyo primarily serves consumer-focused businesses, including e-commerce brands, retailers and other companies seeking to build direct relationships with customers.