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

Klaviyo, Inc. (NYSE:KVYO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $36.95, but opened at $35.93. Klaviyo shares last traded at $35.21, with a volume of 385,369 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KVYO shares. Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a report on Friday, October 18th. Canaccord Genuity Group increased their target price on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus began coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price for the company. Barclays upped their price target on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Benchmark decreased their price objective on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Klaviyo Trading Down 4.5 %

The stock has a market capitalization of $9.41 billion, a P/E ratio of -195.00 and a beta of 1.13. The company has a 50-day moving average price of $35.66 and a 200 day moving average price of $29.03.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same period in the previous year, the company posted ($1.24) earnings per share. The firm’s revenue was up 33.7% on a year-over-year basis. As a group, research analysts expect that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Insider Activity at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $29.72, for a total transaction of $297,200.00. Following the transaction, the chief financial officer now owns 422,813 shares in the company, valued at approximately $12,566,002.36. This represents a 2.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 82,499 shares of Klaviyo stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.76, for a total transaction of $2,620,168.24. The disclosure for this sale can be found here. Insiders have sold 398,996 shares of company stock valued at $12,753,416 in the last ninety days. Corporate insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank acquired a new position in Klaviyo during the first quarter valued at $1,776,000. Blair William & Co. IL lifted its holdings in shares of Klaviyo by 1,234.0% in the 1st quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock valued at $4,473,000 after buying an additional 162,373 shares during the period. Cynosure Group LLC purchased a new stake in shares of Klaviyo in the first quarter worth about $1,344,000. Clearbridge Investments LLC grew its holdings in Klaviyo by 1.5% during the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock worth $56,201,000 after acquiring an additional 31,587 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in Klaviyo during the first quarter valued at approximately $71,000. Institutional investors and hedge funds 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.