Klaviyo (NYSE:KVYO) Shares Gap Down – Time to Sell?

Klaviyo, Inc. (NYSE:KVYO)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $34.50, but opened at $33.45. Klaviyo shares last traded at $33.87, with a volume of 294,595 shares traded.

Analyst Upgrades and Downgrades

KVYO has been the topic of several analyst reports. Citigroup lifted their price objective on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. The Goldman Sachs Group cut their target price on shares of Klaviyo from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Stephens began coverage on shares of Klaviyo in a research report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, February 20th. Finally, Stifel Nicolaus boosted their price target on Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

Klaviyo Stock Performance

The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of -187.49 and a beta of 1.35. The business has a 50-day moving average of $30.56 and a 200-day moving average of $37.21.

Klaviyo (NYSE:KVYO) last released its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $279.83 million for the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. Equities analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jeff Fagnan acquired 3,900 shares of Klaviyo stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $25.77 per share, with a total value of $100,503.00. Following the completion of the acquisition, the insider now owns 3,900 shares of the company’s stock, valued at $100,503. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 2,124,030 shares of company stock valued at $69,016,032. 49.92% of the stock is currently owned by company insiders.

Institutional Trading of Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of KVYO. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Klaviyo by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after acquiring an additional 359 shares during the last quarter. Advisors Asset Management Inc. lifted 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 valued at $83,000 after acquiring an additional 506 shares in the last quarter. Victory Capital Management Inc. boosted its position in 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 purchasing an additional 604 shares during the period. CWM LLC raised its position in Klaviyo by 227.5% in the first quarter. CWM LLC now owns 930 shares of the company’s stock valued at $28,000 after purchasing an additional 646 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Klaviyo by 4.0% in the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock worth $695,000 after buying an additional 648 shares during the period. 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.