Klaviyo, Inc. (NYSE:KVYO) Insider Sells $390,571.56 in Stock

Klaviyo, Inc. (NYSE:KVYO) insider Carmel Galvin sold 11,156 shares of Klaviyo stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the transaction, the insider now owns 711,805 shares of the company’s stock, valued at $24,920,293.05. The trade was a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Klaviyo Stock Up 0.9%

NYSE KVYO opened at $35.21 on Friday. The stock’s 50-day simple moving average is $30.56 and its two-hundred day simple moving average is $37.26. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of -195.59 and a beta of 1.35.

Klaviyo (NYSE:KVYO) last released its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. Klaviyo’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. On average, equities analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on KVYO. Piper Sandler raised their price objective on shares of Klaviyo from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Citigroup upped their price target on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised their price objective on shares of Klaviyo from $26.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Stifel Nicolaus boosted their price objective on shares of Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Stephens assumed coverage on shares of Klaviyo in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.11.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in KVYO. Y Intercept Hong Kong Ltd bought a new position in shares of Klaviyo during the 4th quarter valued at $374,000. Handelsbanken Fonder AB purchased a new stake in Klaviyo during the fourth quarter valued at about $689,000. Telemark Asset Management LLC bought a new position in shares of Klaviyo during the fourth quarter valued at about $4,124,000. Renaissance Capital LLC lifted its stake in shares of Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after acquiring an additional 44,245 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Klaviyo during the 4th quarter valued at about $12,781,000. 45.43% of the stock is currently owned by institutional investors.

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.