Insider Selling: Klaviyo, Inc. (NYSE:KVYO) CFO Sells 10,000 Shares of Stock

Klaviyo, Inc. (NYSE:KVYO) CFO Amanda Whalen sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the sale, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Amanda Whalen also recently made the following trade(s):

• On Friday, September 6th, Amanda Whalen sold 10,000 shares of Klaviyo stock. The stock was sold at an average price of $29.72, for a total value of $297,200.00.
• On Friday, August 9th, Amanda Whalen sold 60,000 shares of Klaviyo stock. The stock was sold at an average price of $30.23, for a total value of $1,813,800.00.

Klaviyo Price Performance

Klaviyo stock traded up $0.59 during midday trading on Friday, hitting $35.42. 325,032 shares of the stock were exchanged, compared to its average volume of 1,165,075. The stock’s 50-day simple moving average is $31.10 and its 200 day simple moving average is $26.43. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $36.47.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. Sell-side analysts anticipate that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Klaviyo

Several large investors have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new position in shares of Klaviyo in the 2nd quarter worth approximately $2,685,000. Millennium Management LLC raised its position in Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after purchasing an additional 390,849 shares during the period. Dark Forest Capital Management LP raised its position in Klaviyo by 13.7% in the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after purchasing an additional 2,851 shares during the period. Diker Management LLC lifted its stake in Klaviyo by 33.3% during the second quarter. Diker Management LLC now owns 200,000 shares of the company’s stock worth $4,978,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Klaviyo during the second quarter worth $3,157,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KVYO. Barclays boosted their price objective on shares of Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Benchmark assumed coverage on shares of Klaviyo in a report on Monday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Piper Sandler upped their price target on shares of Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Cantor Fitzgerald increased their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

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.