Insider Selling: Klaviyo, Inc. (NYSE:KVYO) CTO Sells 130,000 Shares of Stock

Klaviyo, Inc. (NYSE:KVYO) CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Allen Chaves also recently made the following trade(s):

• On Monday, August 12th, Allen Chaves sold 130,000 shares of Klaviyo stock. The stock was sold at an average price of $31.59, for a total transaction of $4,106,700.00.

Klaviyo Stock Performance

KVYO traded up $0.02 on Wednesday, hitting $33.66. The company had a trading volume of 1,470,682 shares, compared to its average volume of 1,186,198. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $39.47. The stock has a fifty day simple moving average of $28.60 and a 200-day simple moving average of $25.57.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. During the same quarter last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, analysts anticipate that Klaviyo, Inc. will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Klaviyo

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

Analyst Ratings Changes

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

Klaviyo Company Profile

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.