Klaviyo (NYSE:KVYO) Lowered to Hold Rating by Wall Street Zen

Klaviyo (NYSE:KVYO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Klaviyo from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Citigroup raised shares of Klaviyo from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $50.00 in a report on Thursday, August 7th. Wells Fargo & Company assumed coverage on shares of Klaviyo in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $40.00 target price on the stock. Zacks Research raised shares of Klaviyo from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.90.

Klaviyo Stock Up 0.6%

Klaviyo stock opened at $28.56 on Friday. The business has a 50 day moving average price of $27.51 and a two-hundred day moving average price of $31.01. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of -119.00 and a beta of 1.26. Klaviyo has a 12 month low of $23.44 and a 12 month high of $49.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $293.12 million for the quarter. Klaviyo had a negative return on equity of 1.00% and a negative net margin of 5.70%. On average, analysts expect that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Summit Partners L. P sold 4,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $31.87, for a total value of $127,480,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ed Hallen sold 89,748 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $31.71, for a total value of $2,845,909.08. Following the sale, the director directly owned 177,776 shares of the company’s stock, valued at $5,637,276.96. This represents a 33.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 5,681,486 shares of company stock worth $178,090,999. Insiders own 49.92% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Klaviyo by 19.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,787,728 shares of the company’s stock worth $354,092,000 after buying an additional 2,059,550 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new position in shares of Klaviyo during the second quarter worth approximately $57,109,000. Norges Bank bought a new stake in shares of Klaviyo during the second quarter valued at approximately $52,629,000. American Century Companies Inc. grew its stake in shares of Klaviyo by 123.4% during the second quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock valued at $90,178,000 after purchasing an additional 1,483,427 shares during the last quarter. Finally, Fiera Capital Corp acquired a new stake in shares of Klaviyo in the second quarter valued at approximately $42,645,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.