Klaviyo (NYSE:KVYO) Director Sells 97,482 Shares of Company Stock

Klaviyo, Inc. (NYSE:KVYO) Director Ed Hallen sold 97,482 shares of the firm’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $17.40, for a total value of $1,696,186.80. Following the completion of the transaction, the director directly owned 55,290 shares of the company’s stock, valued at $962,046. The trade was a 63.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $2,023,055.36.

Klaviyo Stock Down 1.4%

Shares of NYSE KVYO traded down $0.24 during trading hours on Friday, reaching $17.33. 3,746,595 shares of the stock traded hands, compared to its average volume of 5,652,875. The company’s 50-day simple moving average is $17.51 and its two-hundred day simple moving average is $17.03. The company has a market capitalization of $4.93 billion, a P/E ratio of 866.78 and a beta of 0.67. Klaviyo, Inc. has a 52-week low of $12.53 and a 52-week high of $33.35.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $370.58 million during the quarter, compared to the consensus estimate of $362.08 million. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%.The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. As a group, sell-side analysts forecast that Klaviyo, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC raised its stake in Klaviyo by 1,343.5% in the 2nd quarter. Squarepoint Ops LLC now owns 962,136 shares of the company’s stock worth $14,528,000 after acquiring an additional 895,485 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Klaviyo by 88.9% in the first quarter. Bank of America Corp DE now owns 1,686,770 shares of the company’s stock worth $32,825,000 after purchasing an additional 793,613 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Klaviyo during the second quarter worth about $8,663,000. Barton Investment Management boosted its position in Klaviyo by 56.7% in the first quarter. Barton Investment Management now owns 1,050,052 shares of the company’s stock valued at $20,434,000 after buying an additional 380,010 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Klaviyo by 46.5% in the first quarter. First Trust Advisors LP now owns 1,181,887 shares of the company’s stock valued at $23,000,000 after buying an additional 374,959 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KVYO. Robert W. Baird set a $25.00 price target on Klaviyo in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. TD Cowen dropped their price objective on shares of Klaviyo from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Canaccord Genuity Group reduced their price target on Klaviyo from $32.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Benchmark cut shares of Klaviyo from a “buy” rating to a “hold” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and a consensus target price of $27.14.

Klaviyo Company Profile

Klaviyo, Inc (NYSE: KVYO) provides a marketing automation and customer data platform designed primarily for businesses that sell directly to consumers. Its software helps companies collect, organize and analyze customer data, then use that information to create targeted and personalized marketing campaigns.

The company’s platform supports email, SMS and mobile push messaging, as well as automated workflows, audience segmentation, customer analytics, sign-up forms and related campaign-management tools.