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

Klaviyo, Inc. (NYSE:KVYO) Director Ed Hallen sold 98,782 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $21.35, for a total transaction of $2,108,995.70. Following the completion of the sale, the director owned 16,123 shares of the company’s stock, valued at approximately $344,226.05. The trade was a 85.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $17.02, for a total transaction 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 Performance

Shares of NYSE:KVYO traded up $0.23 during midday trading on Monday, hitting $20.94. 5,744,419 shares of the stock were exchanged, compared to its average volume of 5,600,314. Klaviyo, Inc. has a 52-week low of $12.53 and a 52-week high of $33.35. The business’s fifty day simple moving average is $18.10 and its two-hundred day simple moving average is $17.97. The company has a market capitalization of $5.96 billion, a PE ratio of 1,047.47 and a beta of 0.50.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, November 4th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Klaviyo had a return on equity of 6.73% and a net margin of 0.54%. The firm had revenue of $387.21 million for the quarter, compared to the consensus estimate of $380.02 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts anticipate that Klaviyo, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Klaviyo

Large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its stake in shares of Klaviyo by 1,343.5% in the 2nd quarter. Squarepoint Ops LLC now owns 962,136 shares of the company’s stock valued at $14,528,000 after acquiring an additional 895,485 shares in the last quarter. Bank of America Corp DE boosted its position in Klaviyo by 88.9% during 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 period. Bank of New York Mellon Corp acquired a new position in Klaviyo during the second quarter valued at approximately $8,663,000. First Trust Advisors LP grew its holdings in Klaviyo by 46.5% during the first quarter. First Trust Advisors LP now owns 1,181,887 shares of the company’s stock valued at $23,000,000 after purchasing an additional 374,959 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Klaviyo in the first quarter valued at approximately $3,486,000. Institutional investors own 45.43% of the company’s stock.

Wall Street Analyst Weigh In

KVYO has been the subject of several research reports. Robert W. Baird set a $25.00 price target on Klaviyo in a report on Thursday, August 6th. TD Cowen cut their price objective on shares of Klaviyo from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company lifted their target price on shares of Klaviyo from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Weiss Ratings raised shares of Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th. Finally, Barclays increased their price target on shares of Klaviyo from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday. Sixteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.