Insider Selling: Klaviyo, Inc. (NYSE:KVYO) Major Shareholder Sells 4,000,000 Shares of Stock

Klaviyo, Inc. (NYSE:KVYO) major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $33.00, for a total value of $132,000,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Klaviyo Price Performance

KVYO traded down $0.47 during trading on Tuesday, hitting $34.03. The stock had a trading volume of 4,785,454 shares, compared to its average volume of 1,480,853. The company has a 50 day moving average price of $30.56 and a 200-day moving average price of $37.21. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of -189.06 and a beta of 1.35. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KVYO. Stephens initiated coverage on Klaviyo in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price on the stock. Wells Fargo & Company boosted their price target on Klaviyo from $26.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Truist Financial dropped their price objective on Klaviyo from $55.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Mizuho decreased their target price on shares of Klaviyo from $52.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup boosted their target price on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KVYO. TFC Financial Management Inc. bought a new stake in shares of Klaviyo during the 1st quarter valued at approximately $27,000. CWM LLC raised its position in shares of Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after acquiring an additional 646 shares during the last quarter. State of Wyoming acquired a new position in shares of Klaviyo in the first quarter worth approximately $42,000. Caitong International Asset Management Co. Ltd boosted its holdings in Klaviyo by 217.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock valued at $43,000 after acquiring an additional 974 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after purchasing an additional 1,102 shares during the last quarter. 45.43% of the stock is owned by institutional investors.

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.