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

Shares of Klaviyo, Inc. (NYSE:KVYO) dropped 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. Approximately 401,674 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 1,238,106 shares. The stock had previously closed at $44.26.

Several other equities analysts also recently commented on the stock. Loop Capital boosted their target price on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Citigroup boosted their target price on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Robert W. Baird boosted their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC boosted their target price on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Macquarie reissued a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the transaction, the president now owns 260,403 shares in the company, valued at $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the transaction, the insider now owns 298,607 shares in the company, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock worth $4,720,953 over the last quarter. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

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

Klaviyo Price Performance

The stock’s fifty day moving average price is $43.72 and its 200 day moving average price is $38.04. The stock 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). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. On average, sell-side analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Klaviyo Company Profile

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.