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

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s stock price dropped 2.5% during trading on Tuesday after Scotiabank lowered their price target on the stock from $45.00 to $31.00. Scotiabank currently has a sector perform rating on the stock. Klaviyo traded as low as $23.92 and last traded at $24.04. Approximately 322,168 shares changed hands during trading, a decline of 75% from the average daily volume of 1,298,317 shares. The stock had previously closed at $24.67.

KVYO has been the subject of several other research reports. William Blair reiterated an "outperform" rating on shares of Klaviyo in a research note on Thursday, February 20th. Robert W. Baird reduced their price objective on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday. Stephens started coverage on shares of Klaviyo in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price objective for the company. Citigroup boosted their target price on Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. Finally, Benchmark increased their price target on Klaviyo from $40.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.47.

Insider Transactions at Klaviyo

In related news, President Stephen Eric Rowland sold 7,060 shares of the business'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 transaction, the president now owns 447,310 shares of the company's stock, valued at approximately $11,925,284.60. The trade was a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $26.70, for a total transaction of $400,500.00. Following the sale, the chief financial officer now directly owns 553,943 shares in the company, valued at $14,790,278.10. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,088,770 shares of company stock valued at $67,947,356 over the last three months. Company insiders own 53.24% of the company's stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently made changes to their positions in KVYO. Barclays PLC increased its stake in Klaviyo by 1,202.0% in the 3rd quarter. Barclays PLC now owns 12,825 shares of the company's stock worth $453,000 after acquiring an additional 11,840 shares during the last quarter. Capital Investment Advisors LLC bought a new position in shares of Klaviyo in the fourth quarter worth approximately $621,000. Oak Ridge Investments LLC bought a new position in shares of Klaviyo in the fourth quarter worth approximately $1,646,000. SG Americas Securities LLC raised its stake in Klaviyo by 21.4% in the fourth quarter. SG Americas Securities LLC now owns 10,929 shares of the company's stock valued at $451,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Renaissance Capital LLC grew its stake in Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock worth $5,058,000 after buying an additional 44,245 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company's stock.

Klaviyo Stock Performance

The stock's 50 day simple moving average is $32.38 and its 200 day simple moving average is $37.75. The firm has a market cap of $8.08 billion, a PE ratio of -164.33 and a beta of 1.39.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to analysts' expectations of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. As a group, analysts anticipate 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.