Landon Edmond Sells 40,000 Shares of Klaviyo, Inc. (NYSE:KVYO) Stock

Klaviyo, Inc. (NYSE:KVYO) insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the sale, the insider now directly owns 236,621 shares in the company, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Landon Edmond also recently made the following trade(s):

• On Monday, August 26th, Landon Edmond sold 21,764 shares of Klaviyo stock. The stock was sold at an average price of $32.28, for a total transaction of $702,541.92.

Klaviyo Stock Performance

NYSE KVYO opened at $35.01 on Thursday. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of -194.50 and a beta of 1.13. The company’s 50 day moving average price is $36.04 and its 200 day moving average price is $29.42. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $41.00.

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

Institutional Investors Weigh In On Klaviyo

Several institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 808 shares during the period. nVerses Capital LLC bought a new position in Klaviyo in the third quarter worth $53,000. EntryPoint Capital LLC bought a new position in shares of Klaviyo during the first quarter valued at $71,000. Dark Forest Capital Management LP lifted its holdings in shares of Klaviyo by 13.7% during the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after acquiring an additional 2,851 shares during the period. Finally, West Tower Group LLC acquired a new stake in shares of Klaviyo in the third quarter valued at $177,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Canaccord Genuity Group upped their target price on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Piper Sandler increased their price target on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus initiated coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.