Klaviyo (NYSE:KVYO) Director Sells $2,108,995.70 in Stock

Klaviyo, Inc. (NYSE:KVYO) Director Ed Hallen sold 98,782 shares of Klaviyo stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $21.35, for a total value of $2,108,995.70. Following the sale, the director directly owned 16,123 shares of the company’s stock, valued at approximately $344,226.05. The trade was a 85.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ed Hallen also recently made the following trade(s):

• On Wednesday, October 7th, Ed Hallen sold 97,482 shares of Klaviyo stock. The shares were sold at an average price of $17.40, for a total value of $1,696,186.80.
• On Thursday, September 24th, Ed Hallen sold 1,300 shares of Klaviyo stock. The shares were sold at an average price of $17.02, for a total value of $22,126.00.
• On Monday, August 31st, Ed Hallen sold 98,782 shares of Klaviyo stock. The stock was sold at an average price of $20.48, for a total value of $2,023,055.36.

Klaviyo Stock Performance

Shares of Klaviyo stock opened at $21.27 on Thursday. The firm has a 50-day moving average of $18.13 and a 200-day moving average of $17.89. Klaviyo, Inc. has a 52-week low of $12.53 and a 52-week high of $33.35. The stock has a market cap of $6.05 billion, a PE ratio of 1,063.78 and a beta of 0.50.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Klaviyo had a net margin of 0.54% and a return on equity of 6.73%. The business had revenue of $387.21 million for the quarter, compared to analyst estimates of $380.02 million. During the same period last year, the firm earned $0.18 earnings per share. Klaviyo’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities research analysts predict that Klaviyo, Inc. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on KVYO shares. BTIG Research reduced their target price on Klaviyo from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of Klaviyo in a research note on Thursday, August 6th. Robert W. Baird set a $25.00 price objective on shares of Klaviyo in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Klaviyo from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Morgan Stanley set a $31.00 target price on shares of Klaviyo in a report on Thursday, August 6th. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and an average target price of $26.88.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Klaviyo by 88.9% during the first quarter. Bank of America Corp DE now owns 1,686,770 shares of the company’s stock worth $32,825,000 after acquiring an additional 793,613 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Klaviyo by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 1,508,137 shares of the company’s stock worth $29,348,000 after buying an additional 123,480 shares during the period. First Trust Advisors LP raised its stake in Klaviyo by 46.5% during the first quarter. First Trust Advisors LP now owns 1,181,887 shares of the company’s stock worth $23,000,000 after buying an additional 374,959 shares during the last quarter. Janus Henderson Group PLC raised its stake in Klaviyo by 15.6% during the first quarter. Janus Henderson Group PLC now owns 1,025,134 shares of the company’s stock worth $19,951,000 after buying an additional 138,356 shares during the last quarter. Finally, Delta Global Management LP lifted its holdings in Klaviyo by 7.9% in the first quarter. Delta Global Management LP now owns 847,497 shares of the company’s stock valued at $16,492,000 after buying an additional 62,189 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Company Profile

Klaviyo, Inc. provides a customer data and marketing automation platform that helps businesses manage customer relationships and communications. Its software brings together customer information to support personalized marketing and engagement. The platform offers tools for email and text-message marketing, mobile push notifications, automation, audience segmentation, analytics and customer service. Klaviyo also connects with other business applications, including e-commerce platforms, to help companies coordinate customer data and outreach.