Klaviyo (NYSE:KVYO) Shares Gap Down – Here’s Why

Klaviyo, Inc. (NYSE:KVYO)’s stock 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.

Analysts Set New Price Targets

A number of research firms recently weighed in on KVYO. Scotiabank set a $35.00 price objective on shares of Klaviyo and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on shares of Klaviyo from $26.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Citigroup increased their price objective on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, February 20th. Finally, Robert W. Baird decreased their target price on shares of Klaviyo from $54.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and an average price target of $43.11.

Klaviyo Trading Down 2.3%

The firm has a market cap of $10.01 billion, a price-to-earnings ratio of -187.49 and a beta of 1.35. The stock’s 50 day moving average is $30.56 and its 200 day moving average is $37.21.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The business had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm’s revenue was up 33.3% compared to the same quarter last year. On average, equities research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other news, major shareholder Jeff Fagnan acquired 3,900 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The stock was bought at an average cost of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the transaction, the insider now directly owns 3,900 shares in the company, valued at $100,503. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 36,710 shares of the company’s stock in a transaction on Friday, March 7th. The shares were 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 $8,638,590.32. This trade represents a 12.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,124,030 shares of company stock worth $69,016,032. 49.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently made changes to their positions in KVYO. SG Americas Securities LLC increased its stake in shares of Klaviyo by 21.4% in the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company’s stock valued at $451,000 after acquiring an additional 1,923 shares in the last quarter. Renaissance Capital LLC lifted its holdings in Klaviyo by 56.4% during the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after acquiring an additional 44,245 shares during the period. Wilmington Savings Fund Society FSB grew its stake in Klaviyo by 17,445.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 16,142 shares of the company’s stock valued at $666,000 after purchasing an additional 16,050 shares during the period. WCM Investment Management LLC bought a new stake in shares of Klaviyo during the 4th quarter worth $12,781,000. Finally, Legato Capital Management LLC grew its position in shares of Klaviyo by 21.7% during the 4th quarter. Legato Capital Management LLC now owns 40,032 shares of the company’s stock valued at $1,651,000 after purchasing an additional 7,142 shares in the last quarter. 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.