Klaviyo (NYSE:KVYO) Director Sells $1,787,139.68 in Stock

Klaviyo, Inc. (NYSE:KVYO) Director Ed Hallen sold 59,492 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $30.04, for a total value of $1,787,139.68. Following the completion of the sale, the director directly owned 169,204 shares in the company, valued at approximately $5,082,888.16. This represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ed Hallen also recently made the following trade(s):

• On Tuesday, November 11th, Ed Hallen sold 2,811 shares of Klaviyo stock. The stock was sold at an average price of $30.00, for a total value of $84,330.00.
• On Monday, September 15th, Ed Hallen sold 89,748 shares of Klaviyo stock. The stock was sold at an average price of $31.71, for a total transaction of $2,845,909.08.

Klaviyo Stock Performance

NYSE:KVYO opened at $28.61 on Friday. The firm has a market cap of $8.64 billion, a P/E ratio of -119.19 and a beta of 1.26. Klaviyo, Inc. has a fifty-two week low of $23.44 and a fifty-two week high of $49.55. The firm has a 50-day simple moving average of $28.47 and a two-hundred day simple moving average of $31.33.

Klaviyo (NYSE:KVYO) last issued its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $293.12 million for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. On average, equities research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Klaviyo in a report on Friday, September 26th. Morgan Stanley upgraded Klaviyo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $50.00 in a report on Friday, September 19th. Citigroup raised Klaviyo from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $50.00 in a research report on Thursday, August 7th. Stephens dropped their price target on shares of Klaviyo from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Finally, Robert W. Baird lifted their price target on shares of Klaviyo from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Klaviyo has an average rating of “Moderate Buy” and a consensus target price of $42.67.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Klaviyo by 9.7% during the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock valued at $256,240,000 after purchasing an additional 746,078 shares during the period. Encompass More Asset Management bought a new position in shares of Klaviyo in the first quarter worth about $549,000. Assetmark Inc. lifted its position in shares of Klaviyo by 316.6% during the 2nd quarter. Assetmark Inc. now owns 62,577 shares of the company’s stock valued at $2,101,000 after buying an additional 47,555 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Klaviyo by 85.4% during the 1st quarter. Raymond James Financial Inc. now owns 545,159 shares of the company’s stock valued at $16,497,000 after acquiring an additional 251,104 shares during the period. Finally, Jump Financial LLC purchased a new stake in Klaviyo in the 1st quarter worth approximately $3,249,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.