Klaviyo, Inc. (NYSE:KVYO) Short Interest Down 9.0% in July

Klaviyo, Inc. (NYSE:KVYO) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 10,090,000 shares, a decline of 9.0% from the July 15th total of 11,090,000 shares. Based on an average daily volume of 1,320,000 shares, the short-interest ratio is currently 7.6 days. Approximately 22.3% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms have issued reports on KVYO. Cantor Fitzgerald boosted their price target on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Piper Sandler boosted their price objective on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research note on Thursday, August 8th. Mizuho reduced their price objective on Klaviyo from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Barclays boosted their price objective on Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.65.

Insider Activity

In other Klaviyo news, major shareholder Jeff Fagnan acquired 9,485 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the transaction, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.67, for a total transaction of $573,670.38. Following the completion of the sale, the president now owns 192,488 shares of the company’s stock, valued at $6,096,094.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Jeff Fagnan purchased 9,485 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the transaction, the insider now owns 9,485 shares of the company’s stock, valued at approximately $250,688.55. The disclosure for this purchase can be found here. Insiders sold a total of 242,880 shares of company stock valued at $7,468,036 over the last quarter. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Klaviyo during the fourth quarter valued at approximately $1,780,000. Janus Henderson Group PLC bought a new position in Klaviyo in the 1st quarter worth approximately $662,000. Swiss National Bank bought a new position in Klaviyo during the 1st quarter valued at $1,776,000. Jump Financial LLC bought a new position in Klaviyo during the 4th quarter valued at $1,708,000. Finally, Pursue Wealth Partners LLC bought a new position in Klaviyo during the 4th quarter valued at $1,753,000. 45.43% of the stock is owned by institutional investors.

Klaviyo Trading Up 1.5 %

NYSE:KVYO opened at $32.25 on Tuesday. Klaviyo has a one year low of $21.26 and a one year high of $39.47. The business’s 50-day simple moving average is $25.32 and its 200 day simple moving average is $25.19.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (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. During the same quarter in the previous year, the company earned $0.09 EPS. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. Sell-side analysts forecast that Klaviyo will post -0.11 earnings per share for the current year.

About Klaviyo

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.