Carmel Galvin Sells 11,156 Shares of Klaviyo, Inc. (NYSE:KVYO) Stock

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

Klaviyo Price Performance

Shares of KVYO stock opened at $35.21 on Friday. The firm has a 50-day moving average of $30.56 and a 200-day moving average of $37.26. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The company has a market cap of $9.62 billion, a P/E ratio of -195.59 and a beta of 1.35.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $279.83 million during the quarter, compared to analyst estimates of $267.79 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Trading of Klaviyo

Institutional investors and hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new stake 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 worth about $689,000. Telemark Asset Management LLC bought a new stake in Klaviyo in the fourth quarter worth about $4,124,000. Renaissance Capital LLC boosted its stake in Klaviyo by 56.4% in the fourth 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 bought a new position in shares of Klaviyo during the 4th quarter valued at approximately $12,781,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVYO has been the topic of several research reports. William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Piper Sandler boosted their target price on Klaviyo from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Benchmark increased their price target on Klaviyo from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their price objective on Klaviyo from $26.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Finally, Needham & Company LLC lowered their target price on Klaviyo from $56.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

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.