Shares of Klaviyo, Inc. (NYSE:KVYO – Get Free Report) were down 3.9% on Thursday . The stock traded as low as $15.73 and last traded at $15.5910. 2,094,987 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 5,560,587 shares. The stock had previously closed at $16.23.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $26.00 price target on shares of Klaviyo and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Stifel Nicolaus set a $22.00 price objective on shares of Klaviyo in a research report on Thursday, September 10th. Barclays reduced their price objective on shares of Klaviyo from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Needham & Company LLC restated a “buy” rating on shares of Klaviyo in a research report on Wednesday, September 2nd. Finally, Weiss Ratings raised shares of Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.
Read Our Latest Research Report on Klaviyo
Klaviyo Stock Performance
Klaviyo (NYSE:KVYO – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The business had revenue of $370.58 million for the quarter, compared to analyst estimates of $362.08 million. During the same period in the prior year, the firm posted $0.16 EPS. The company’s revenue was up 26.4% on a year-over-year basis. As a group, equities analysts predict that Klaviyo, Inc. will post 0.2 EPS for the current fiscal year.
Insider Activity at Klaviyo
In other Klaviyo news, Director Ed Hallen sold 98,782 shares of Klaviyo stock in a transaction on Monday, August 31st. The shares were sold at an average price of $20.48, for a total value of $2,023,055.36. Following the transaction, the director owned 94,457 shares in the company, valued at $1,934,479.36. This trade represents a 51.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $15.93, for a total value of $37,085.04. Following the completion of the transaction, the director directly owned 23,433 shares in the company, valued at $373,287.69. This trade represents a 9.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,176,686 shares of company stock valued at $92,104,340 over the last 90 days. 37.42% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Klaviyo
Hedge funds and other institutional investors have recently modified their holdings of the company. Whetstone Capital Advisors LLC purchased a new stake in shares of Klaviyo during the 2nd quarter worth about $1,343,000. Engineers Gate Manager LP raised its holdings in Klaviyo by 559.9% in the second quarter. Engineers Gate Manager LP now owns 131,709 shares of the company’s stock valued at $1,989,000 after buying an additional 111,749 shares during the period. Integrated Wealth Concepts LLC lifted its position in Klaviyo by 1.3% during the second quarter. Integrated Wealth Concepts LLC now owns 435,481 shares of the company’s stock valued at $6,576,000 after buying an additional 5,661 shares in the last quarter. Squarepoint Ops LLC lifted its position in Klaviyo by 1,343.5% during the second quarter. Squarepoint Ops LLC now owns 962,136 shares of the company’s stock valued at $14,528,000 after buying an additional 895,485 shares in the last quarter. Finally, Arizona State Retirement System grew its stake 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 buying an additional 2,568 shares during the period. 45.43% of the stock is owned by institutional investors and hedge funds.
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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