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

Key Points

• Klaviyo shares fell 5.9% to about $14.87, below both the 50-day and 200-day moving averages, with trading volume well below average.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $27.14, despite one Sell rating.
• The company reported revenue of $370.58 million, up 26.4% year over year and above estimates, while major shareholders and insiders sold more than 5.17 million shares worth $92.1 million over the past 90 days.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) shares traded down 5.9% on Monday. The stock traded as low as $14.77 and last traded at $14.8650. Approximately 1,538,432 shares were traded during mid-day 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 Analysts Forecast Growth

A number of brokerages have recently issued reports on KVYO. Robert W. Baird set a $25.00 price objective on shares of Klaviyo in a research report on Thursday, August 6th. The Goldman Sachs Group set a $26.00 price objective on shares of Klaviyo and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Mizuho set a $28.00 price target on Klaviyo in a research note on Thursday, August 6th. Barclays decreased their price objective on shares of Klaviyo from $25.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Finally, Citigroup reiterated a "buy" rating on shares of Klaviyo in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.14.

Klaviyo Stock Down 4.2%

The stock has a market capitalization of $4.31 billion, a PE ratio of 753.58 and a beta of 0.57. The firm's fifty day moving average is $17.74 and its 200-day moving average is $17.21.

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

Insider Transactions at Klaviyo

In other news, major shareholder Summit Partners L. P sold 5,000,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $17.71, for a total transaction of $88,550,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Landon Edmond sold 8,103 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $20.44, for a total value of $165,625.32. Following the completion of the sale, the insider directly owned 477,866 shares in the company, valued at $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. Insiders sold a total of 5,177,986 shares of company stock valued at $92,126,466 over the last ninety days. 37.42% of the stock is currently owned by corporate insiders.

Institutional Trading of Klaviyo

A number of large investors have recently added to or reduced their stakes in the business. Whetstone Capital Advisors LLC acquired a new position in shares of Klaviyo in the second quarter worth $1,343,000. Engineers Gate Manager LP grew its holdings in Klaviyo by 559.9% during the 2nd quarter. Engineers Gate Manager LP now owns 131,709 shares of the company's stock worth $1,989,000 after acquiring an additional 111,749 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Klaviyo by 1.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 435,481 shares of the company's stock valued at $6,576,000 after acquiring an additional 5,661 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Klaviyo by 1,343.5% in the 2nd quarter. Squarepoint Ops LLC now owns 962,136 shares of the company's stock valued at $14,528,000 after purchasing an additional 895,485 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Klaviyo by 7.1% during the second quarter. Arizona State Retirement System now owns 38,579 shares of the company's stock worth $583,000 after purchasing an additional 2,568 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Company Profile

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.

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