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

Klaviyo, Inc. (NYSE:KVYO) fell 8.4% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $34.46 and last traded at $34.50. 601,610 shares traded hands during trading, a decline of 51% from the average session 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 business’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 sale, the president now directly owns 246,254 shares in the company, valued at approximately $8,638,590.32. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

Several research firms have recently weighed in on KVYO. Robert W. Baird boosted their price target on Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price target on Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Citigroup boosted their price target on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Morgan Stanley upped their target price on Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus upped their target price on Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Stock Performance

The stock has a market cap of $9.30 billion, a P/E ratio of -189.08 and a beta of 0.86. The business has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $38.62.

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). The firm had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. On average, sell-side analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Trading of Klaviyo

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after purchasing an additional 359 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Klaviyo by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock valued at $267,000 after acquiring an additional 604 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Klaviyo by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock valued at $695,000 after acquiring an additional 648 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock valued at $589,000 after acquiring an additional 677 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after acquiring an additional 808 shares in the last quarter. 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.