Klaviyo (NYSE:KVYO) Reaches New 52-Week High – Here’s Why

Klaviyo, Inc. (NYSE:KVYO)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $49.29 and last traded at $49.01, with a volume of 284697 shares traded. The stock had previously closed at $46.96.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Cantor Fitzgerald raised their price target on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. KeyCorp raised their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley raised their target price on shares of Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Needham & Company LLC raised their target price on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.29.

Klaviyo Price Performance

The stock has a market cap of $12.81 billion, a price-to-earnings ratio of -263.87 and a beta of 0.60. The business’s fifty day simple moving average is $42.60 and its 200 day simple moving average is $36.91.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the transaction, the chief financial officer now owns 376,820 shares of the company’s stock, valued at approximately $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the transaction, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,072 shares of company stock valued at $6,778,517 over the last 90 days. 53.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its holdings in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares during the period. nVerses Capital LLC acquired a new stake in Klaviyo in the third quarter worth about $53,000. CIBC Private Wealth Group LLC lifted its holdings in Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares during the period. West Tower Group LLC acquired a new stake in Klaviyo in the third quarter worth about $177,000. Finally, SBI Securities Co. Ltd. bought a new stake in Klaviyo in the fourth quarter worth about $196,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Company Profile

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.