Klaviyo (NYSE:KVYO) Trading Up 5.5% – Here’s What Happened

Klaviyo, Inc. (NYSE:KVYO) traded up 5.5% on Tuesday . The stock traded as high as $37.27 and last traded at $37.01. 847,869 shares were traded during mid-day trading, a decline of 27% from the average session volume of 1,163,172 shares. The stock had previously closed at $35.09.

Wall Street Analyst Weigh In

Several analysts have weighed in on KVYO shares. Stifel Nicolaus started coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target on the stock. Macquarie reiterated a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Robert W. Baird upped 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. Barclays upped their target price on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler boosted their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Klaviyo Price Performance

The stock’s 50 day simple moving average is $35.53 and its 200-day simple moving average is $28.97. The company has a market capitalization of $9.85 billion, a PE ratio of -205.27 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating 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 firm had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter last year, the company earned ($1.24) earnings per share. The firm’s revenue was up 33.7% compared to the same quarter last year. On average, equities analysts predict that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Insider Transactions at Klaviyo

In other news, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at $7,158,628.72. The trade was a 8.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 659,711 shares of company stock worth $21,036,946. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently added to or reduced their stakes in KVYO. Advisors Asset Management Inc. boosted its position in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Klaviyo during the 3rd quarter valued at about $53,000. EntryPoint Capital LLC bought a new position in Klaviyo in the first quarter worth about $71,000. West Tower Group LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth approximately $177,000. Finally, Victory Capital Management Inc. acquired a new position in Klaviyo during the 3rd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.