Klaviyo, Inc. (NYSE:KVYO) Sees Significant Increase in Short Interest

Klaviyo, Inc. (NYSE:KVYO) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 6,630,000 shares, a growth of 9.4% from the December 31st total of 6,060,000 shares. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 5.2 days. Approximately 12.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Morgan Stanley upped their target price on shares of Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. William Blair reissued an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Robert W. Baird lifted their target price on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays increased their target price on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.18.

Insider Transactions at Klaviyo

In related news, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the sale, the insider now owns 236,621 shares in the company, valued at $8,177,621.76. This represents a 14.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the transaction, the president now owns 260,403 shares in the company, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,072 shares of company stock worth $6,090,767 over the last ninety days. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several institutional investors have recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC raised its holdings in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after buying an additional 3,092,725 shares during the last quarter. Geode Capital Management LLC increased its holdings in Klaviyo by 45.1% in the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock worth $27,827,000 after purchasing an additional 244,447 shares in the last quarter. Mayflower Financial Advisors LLC boosted its holdings in shares of Klaviyo by 181.4% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after buying an additional 441,500 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Klaviyo by 121.5% in the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after purchasing an additional 369,400 shares during the period. Finally, SpiderRock Advisors LLC increased its stake in Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Trading Up 1.3 %

Shares of NYSE KVYO opened at $46.62 on Tuesday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $47.96. The firm has a market capitalization of $12.57 billion, a PE ratio of -258.99 and a beta of 0.60. The firm’s 50-day moving average is $41.11 and its 200-day moving average is $35.82.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same quarter in the prior year, the firm earned ($1.24) earnings per share. The firm’s revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Klaviyo will post 0.03 earnings per share for the current fiscal 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.