Klaviyo (NYSE:KVYO) Shares Climb 8.4% – Still a Buy?

Klaviyo, Inc. (NYSE:KVYO) shares traded up 8.4% during mid-day trading on Monday. The company traded as high as $22.08 and last traded at $21.8270. 2,163,796 shares traded hands during trading, a decline of 61% from the average daily volume of 5,546,168 shares. The stock had previously closed at $20.14.

Analyst Upgrades and Downgrades

KVYO has been the topic of several recent analyst reports. Weiss Ratings raised Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. Needham & Company LLC restated a “buy” rating on shares of Klaviyo in a research note on Wednesday, September 2nd. The Goldman Sachs Group downgraded Klaviyo from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $20.00 in a research note on Friday, October 16th. Morgan Stanley set a $31.00 price objective on shares of Klaviyo in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $25.00 target price on Klaviyo in a research report on Thursday, August 6th. Seventeen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.05.

Klaviyo Stock Down 0.5%

The stock has a 50-day moving average of $17.95 and a 200 day moving average of $18.02. The stock has a market cap of $6.05 billion, a PE ratio of 1,062.13 and a beta of 0.50.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 4th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $387.21 million for the quarter, compared to analyst estimates of $380.02 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. On average, equities analysts anticipate that Klaviyo, Inc. will post 0.20 EPS for the current year.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 5,000,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $17.71, for a total value of $88,550,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan St. Ledger sold 2,328 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $15.93, for a total transaction of $37,085.04. Following the completion of the transaction, the director owned 23,433 shares in the company, valued at approximately $373,287.69. This represents a 9.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,275,468 shares of company stock valued at $93,822,653 in the last ninety days. 37.42% of the stock is currently owned by corporate insiders.

Institutional Trading of Klaviyo

Several institutional investors and hedge funds have recently added to or reduced their stakes in KVYO. Fulcrum Asset Management LLP purchased a new position in shares of Klaviyo during the 3rd quarter worth $1,849,000. Parallel Advisors LLC boosted its holdings in shares of Klaviyo by 30.1% during the third quarter. Parallel Advisors LLC now owns 2,276 shares of the company’s stock worth $36,000 after purchasing an additional 526 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Klaviyo during the third quarter worth $378,000. Commonwealth Equity Services LLC purchased a new stake in shares of Klaviyo in the third quarter valued at $327,000. Finally, Chicago Partners Investment Group LLC grew its position in shares of Klaviyo by 6.8% in the third quarter. Chicago Partners Investment Group LLC now owns 12,054 shares of the company’s stock valued at $254,000 after purchasing an additional 767 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Company Profile

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.