Klaviyo (NYSE:KVYO) Director Ed Hallen Sells 98,782 Shares of Stock

Klaviyo, Inc. (NYSE:KVYO) Director Ed Hallen sold 98,782 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $21.35, for a total transaction of $2,108,995.70. Following the completion of the transaction, the director directly owned 16,123 shares of the company’s stock, valued at $344,226.05. This trade represents a 85.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 7th, Ed Hallen sold 97,482 shares of Klaviyo stock. The shares were sold at an average price of $17.40, for a total transaction of $1,696,186.80.
• On Thursday, September 24th, Ed Hallen sold 1,300 shares of Klaviyo stock. The stock was sold at an average price of $17.02, for a total value of $22,126.00.
• On Monday, August 31st, Ed Hallen sold 98,782 shares of Klaviyo stock. The stock was sold at an average price of $20.48, for a total value of $2,023,055.36.

Klaviyo Trading Up 1.1%

NYSE:KVYO opened at $20.94 on Tuesday. Klaviyo, Inc. has a 1 year low of $12.53 and a 1 year high of $33.35. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 92.87 and a beta of 0.50. The stock has a 50-day moving average price of $18.12 and a two-hundred day moving average price of $17.95.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $387.21 million for the quarter, compared to analyst estimates of $380.02 million. Klaviyo had a return on equity of 6.37% and a net margin of 0.54%. Klaviyo’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. Sell-side analysts forecast that Klaviyo, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Klaviyo by 116.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 23,978 shares of the company’s stock valued at $377,000 after acquiring an additional 12,897 shares in the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Klaviyo during the 3rd quarter worth approximately $1,588,000. Fulcrum Asset Management LLP bought a new position in shares of Klaviyo during the 3rd quarter worth approximately $1,849,000. Parallel Advisors LLC grew its stake in shares of Klaviyo by 30.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,276 shares of the company’s stock worth $36,000 after acquiring an additional 526 shares in the last quarter. Finally, CenterBook Partners LP bought a new position in Klaviyo in the third quarter valued at $378,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KVYO has been the topic of several research analyst reports. Mizuho set a $24.00 target price on shares of Klaviyo in a report on Thursday. Truist Financial cut their price target on shares of Klaviyo from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, September 8th. BTIG Research lowered their price objective on shares of Klaviyo from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Barclays raised their price objective on shares of Klaviyo from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Sixteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.02.

Klaviyo Company Profile

Klaviyo, Inc provides a customer data and marketing automation platform that helps businesses manage customer relationships and communications. Its software brings together customer information to support personalized marketing and engagement.

The platform offers tools for email and text-message marketing, mobile push notifications, automation, audience segmentation, analytics and customer service. Klaviyo also connects with other business applications, including e-commerce platforms, to help companies coordinate customer data and outreach.

Founded in 2012 by Andrew Bialecki and Ed Hallen, Klaviyo is headquartered in Boston and serves businesses in markets around the world.