Klaviyo (NYSE:KVYO) Price Target Lowered to $45.00 at Wells Fargo & Company

Klaviyo (NYSE:KVYO) had its price target lowered by Wells Fargo & Company from $48.00 to $45.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

KVYO has been the subject of several other reports. William Blair restated an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Loop Capital lifted their price target on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Piper Sandler increased their target price on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday. Scotiabank boosted their price objective on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC boosted their target price on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Down 5.9 %

Shares of KVYO opened at $44.23 on Thursday. The company has a 50 day moving average of $43.66 and a 200-day moving average of $37.80. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.90% and a negative net margin of 4.92%. The business had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. On average, sell-side analysts predict that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the sale, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at $17,277,197. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the sale, the insider now directly owns 298,607 shares in the company, valued at approximately $12,481,772.60. This represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,536 shares of company stock worth $4,720,953. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several hedge funds have recently modified their holdings of the business. Whale Rock Capital Management LLC boosted its stake in Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after acquiring an additional 3,092,725 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Klaviyo during the 4th quarter valued at approximately $38,870,000. D. E. Shaw & Co. Inc. raised its position in shares of Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock worth $54,034,000 after acquiring an additional 866,749 shares during the period. Lord Abbett & CO. LLC purchased a new position in Klaviyo during the fourth quarter worth approximately $30,851,000. Finally, Ameriprise Financial Inc. increased its holdings in Klaviyo by 229.5% in the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after acquiring an additional 684,026 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

About Klaviyo

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.