Klaviyo, Inc. (NYSE:KVYO) President Sells $565,881.36 in Stock

Klaviyo, Inc. (NYSE:KVYO) President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.24, for a total value of $565,881.36. Following the completion of the sale, the president now owns 192,488 shares in the company, valued at approximately $6,013,325.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Stephen Eric Rowland also recently made the following trade(s):

• On Friday, August 16th, Stephen Eric Rowland sold 18,114 shares of Klaviyo stock. The shares were sold at an average price of $31.67, for a total transaction of $573,670.38.

Klaviyo Stock Up 1.7 %

Shares of KVYO stock opened at $34.04 on Friday. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $37.36. The stock’s fifty day moving average price is $29.21 and its two-hundred day moving average price is $25.73.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. Klaviyo’s revenue was up 35.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, analysts forecast that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on KVYO shares. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald upped their target price on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Barclays lifted their price target on Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Piper Sandler upped their price objective on Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Klaviyo in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.65.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. grew its stake in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after buying an additional 1,450 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Klaviyo in the 1st quarter worth about $71,000. SG Americas Securities LLC acquired a new position in Klaviyo in the 2nd quarter worth about $236,000. SVB Wealth LLC bought a new position in Klaviyo in the first quarter valued at about $299,000. Finally, Versor Investments LP acquired a new stake in shares of Klaviyo during the second quarter valued at about $309,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.