Klaviyo (NYSE:KVYO) Stock Price Down 4.7% - Time to Sell?

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s share price fell 4.7% during trading on Thursday . The company traded as low as $32.20 and last traded at $32.36. 117,632 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 1,856,569 shares. The stock had previously closed at $33.95.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KVYO. Benchmark raised their price objective on Klaviyo from $43.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Robert W. Baird dropped their target price on Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Cantor Fitzgerald upgraded Klaviyo to an "overweight" rating and set a $48.00 target price on the stock in a report on Tuesday, June 3rd. Wells Fargo & Company upgraded Klaviyo from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $32.00 to $40.00 in a report on Friday, June 13th. Finally, The Goldman Sachs Group decreased their price target on Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $43.21.

Klaviyo Price Performance

The company has a 50 day simple moving average of $33.75 and a 200-day simple moving average of $36.04. The stock has a market cap of $9.33 billion, a P/E ratio of -174.49 and a beta of 1.37.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.74% and a negative net margin of 4.70%. The company had revenue of $279.83 million during the quarter, compared to analyst estimates of $267.79 million. During the same quarter in the previous year, the company posted $0.13 EPS. Klaviyo's revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $34.98, for a total transaction of $524,700.00. Following the transaction, the chief financial officer owned 521,627 shares in the company, valued at $18,246,512.46. The trade was a 2.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total value of $133,400,000.00. The disclosure for this sale can be found here. Insiders have sold 8,072,320 shares of company stock worth $267,846,695 over the last 90 days. 49.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its holdings in shares of Klaviyo by 22.7% during the 1st quarter. Advisors Asset Management Inc. now owns 2,731 shares of the company's stock worth $83,000 after acquiring an additional 506 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Klaviyo by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock worth $267,000 after acquiring an additional 604 shares during the period. CWM LLC grew its holdings in shares of Klaviyo by 227.5% during the 1st quarter. CWM LLC now owns 930 shares of the company's stock worth $28,000 after acquiring an additional 646 shares during the period. Arizona State Retirement System grew its holdings in shares of Klaviyo by 4.0% during the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock worth $695,000 after acquiring an additional 648 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Klaviyo by 5.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company's stock worth $589,000 after acquiring an additional 677 shares during the period. Hedge funds and other institutional investors own 45.43% of the company's stock.

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.