Klaviyo, Inc. (NYSE:KVYO) Short Interest Down 14.4% in October

Klaviyo, Inc. (NYSE:KVYO) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 8,320,000 shares, a decline of 14.4% from the September 30th total of 9,720,000 shares. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is currently 7.4 days. Approximately 18.3% of the company’s stock are short sold.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KVYO. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a report on Friday, October 18th. Robert W. Baird upped their target price on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $42.00 price target on shares of Klaviyo in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald boosted their price objective on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and an average price target of $37.29.

Klaviyo Trading Down 1.6 %

KVYO traded down $0.61 during trading hours on Thursday, hitting $38.01. 834,180 shares of the company’s stock were exchanged, compared to its average volume of 1,119,615. The firm has a market cap of $10.14 billion and a P/E ratio of -26.96. Klaviyo has a 12-month low of $21.26 and a 12-month high of $39.92. The firm has a 50 day moving average of $34.52 and a 200 day moving average of $28.06.

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. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year.

Insiders Place Their Bets

In other news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the sale, the president now owns 192,488 shares in the company, valued at approximately $7,158,628.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 21,766 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.02, for a total transaction of $653,415.32. Following the transaction, the insider now owns 260,413 shares in the company, valued at $7,817,598.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 871,477 shares of company stock valued at $27,610,861. 53.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several large investors have recently bought and sold shares of KVYO. nVerses Capital LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth about $53,000. William Marsh Rice University acquired a new stake in Klaviyo during the 3rd quarter worth $245,000. Renaissance Capital LLC grew its position in Klaviyo by 134.6% during the 3rd quarter. Renaissance Capital LLC now owns 78,401 shares of the company’s stock worth $2,774,000 after purchasing an additional 44,977 shares during the last quarter. Cabot Wealth Management Inc. increased its stake in Klaviyo by 101.1% in the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock valued at $3,199,000 after purchasing an additional 45,451 shares during the period. Finally, Creative Planning purchased a new stake in shares of Klaviyo in the third quarter valued at about $254,000. Hedge funds and other institutional investors 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.