Klaviyo (NYSE:KVYO) Shares Down 8.4% After Insider Selling

Klaviyo, Inc. (NYSE:KVYO)’s stock price dropped 8.4% during mid-day trading on Friday following insider selling activity. The stock traded as low as $34.46 and last traded at $34.50. Approximately 601,610 shares were traded during trading, a decline of 51% from the average daily volume of 1,216,851 shares. The stock had previously closed at $37.66.

Specifically, President Stephen Eric Rowland sold 36,710 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the transaction, the president now directly owns 246,254 shares of the company’s stock, valued at approximately $8,638,590.32. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

KVYO has been the topic of a number of research reports. Citigroup raised their price objective on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Wells Fargo & Company reduced their price target on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 20th. William Blair restated an “outperform” rating on shares of Klaviyo in a research report on Thursday, February 20th. Benchmark raised their price target on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Loop Capital raised their price target on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Price Performance

The company has a 50 day moving average price of $42.92 and a two-hundred day moving average price of $38.62. The stock has a market cap of $9.30 billion, a PE ratio of -189.08 and a beta of 0.86.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share 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 during the quarter, compared to analysts’ expectations of $257.24 million. As a group, equities analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KVYO. Advisors Asset Management Inc. grew its holdings in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after buying an additional 818 shares during the last quarter. West Tower Group LLC bought a new position in shares of Klaviyo during the third quarter valued at approximately $177,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Klaviyo during the fourth quarter valued at approximately $196,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.