Klaviyo, Inc. (NYSE:KVYO) Major Shareholder Sells $3,358,732.65 in Stock

Klaviyo, Inc. (NYSE:KVYO) major shareholder Summit Partners L. P sold 107,205 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $31.33, for a total transaction of $3,358,732.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Klaviyo Price Performance

Shares of NYSE KVYO opened at $33.61 on Wednesday. The stock’s 50-day simple moving average is $28.60 and its 200-day simple moving average is $25.57. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $39.47.

Klaviyo (NYSE:KVYO) last posted its earnings results 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. 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 during the quarter, compared to the consensus estimate of $212.34 million. During the same period in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was up 35.0% on a year-over-year basis. As a group, research analysts predict that Klaviyo, Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. boosted its stake in shares of Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after buying an additional 1,450 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Klaviyo in the 1st quarter valued at about $71,000. Dark Forest Capital Management LP grew its position in Klaviyo by 13.7% during the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock worth $590,000 after buying an additional 2,851 shares during the period. Arizona State Retirement System lifted its position in shares of Klaviyo by 67.1% during the 2nd quarter. Arizona State Retirement System now owns 16,221 shares of the company’s stock valued at $404,000 after acquiring an additional 6,512 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in shares of Klaviyo by 87.9% during the 1st quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock worth $398,000 after acquiring an additional 7,316 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KVYO has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a research note on Wednesday, September 4th. Piper Sandler upped their price target on shares of Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald increased their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research report on Thursday, August 8th. Finally, Barclays upped their target price on shares of Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

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.