Klaviyo (NYSE:KVYO) Trading Down 3.9% - Here's Why

Key Points

• Klaviyo shares fell 3.9% to about $15.59 in midday trading, with volume down 62% from the average daily level.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $27.14, although several firms recently lowered their targets.
• The company met quarterly EPS expectations at $0.19 and exceeded revenue forecasts with $370.58 million, while revenue grew 26.4% year over year; insiders have sold more than 5.17 million shares worth approximately $92.1 million over the past 90 days.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) dropped 3.9% during mid-day trading on Thursday . The stock traded as low as $15.73 and last traded at $15.5910. Approximately 2,094,987 shares were traded during trading, a decline of 62% from the average daily volume of 5,560,587 shares. The stock had previously closed at $16.23.

Analysts Set New Price Targets

Several analysts have recently commented on the company. KeyCorp reduced their price target on Klaviyo from $35.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. Stephens raised their target price on Klaviyo from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of Klaviyo from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Canaccord Genuity Group lowered their price target on shares of Klaviyo from $32.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, Piper Sandler cut their price target on shares of Klaviyo from $26.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.14.

Klaviyo Stock Performance

The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 776.64 and a beta of 0.57. The business has a fifty day moving average of $17.96 and a two-hundred day moving average of $17.39.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $370.58 million during the quarter, compared to analysts' expectations of $362.08 million. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%.Klaviyo's revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. On average, equities research analysts forecast that Klaviyo, Inc. will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other Klaviyo news, Director Ed Hallen sold 98,782 shares of the firm's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $20.48, for a total transaction of $2,023,055.36. Following the completion of the transaction, the director directly owned 94,457 shares in the company, valued at approximately $1,934,479.36. This trade represents a 51.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan St. Ledger sold 2,328 shares of Klaviyo stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $15.93, for a total transaction of $37,085.04. Following the transaction, the director owned 23,433 shares of the company's stock, valued at approximately $373,287.69. The trade was a 9.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 5,176,686 shares of company stock worth $92,104,340. 37.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Optiver Holding B.V. purchased a new stake in Klaviyo in the 1st quarter valued at approximately $39,000. Rockefeller Capital Management L.P. increased its position in Klaviyo by 2,641.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company's stock worth $104,000 after buying an additional 3,090 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Klaviyo by 2,085.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company's stock worth $74,000 after buying an additional 3,628 shares in the last quarter. Nykredit A S acquired a new position in shares of Klaviyo in the second quarter worth $90,000. Finally, Mach 1 Financial Group LLC acquired a new position in shares of Klaviyo in the fourth quarter worth $208,000. 45.43% of the stock is owned by hedge funds and other 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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