Key Points
- Klaviyo director Ed Hallen sold 97,482 shares at an average price of $17.40, generating $1.70 million; the Rule 10b5-1 transaction reduced his direct holdings by 63.81% to 55,290 shares.
- Klaviyo reported quarterly revenue of $370.58 million, exceeding analyst expectations of $362.08 million, while adjusted earnings of $0.19 per share matched estimates. Revenue increased 26.4% year over year.
- KVYO opened at $17.33, with analysts maintaining a consensus “Moderate Buy” rating and an average price target of $27.14, well above the share price.
Klaviyo, Inc. (NYSE:KVYO - Get Free Report) Director Ed Hallen sold 97,482 shares of the firm's stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $17.40, for a total transaction of $1,696,186.80. Following the completion of the sale, the director directly owned 55,290 shares of the company's stock, valued at approximately $962,046. This represents a 63.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Thursday, September 24th, Ed Hallen sold 1,300 shares of Klaviyo stock. The stock was sold at an average price of $17.02, for a total transaction 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 KVYO opened at $17.33 on Friday. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 866.78 and a beta of 0.67. The business's fifty day moving average price is $17.50 and its two-hundred day moving average price is $17.03. Klaviyo, Inc. has a 52 week low of $12.53 and a 52 week high of $33.35.
Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $370.58 million during the quarter, compared to analysts' expectations of $362.08 million. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%. The business's revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. As a group, research analysts forecast that Klaviyo, Inc. will post 0.20 EPS for the current year.
Institutional Trading of Klaviyo
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. increased its stake in Klaviyo by 21.8% in the third quarter. Congress Asset Management Co. now owns 774,660 shares of the company's stock valued at $12,185,000 after purchasing an additional 138,430 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new stake in Klaviyo in the second quarter worth $1,343,000. Engineers Gate Manager LP raised its holdings in Klaviyo by 559.9% in the second quarter. Engineers Gate Manager LP now owns 131,709 shares of the company's stock worth $1,989,000 after purchasing an additional 111,749 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of Klaviyo by 1.3% during the second quarter. Integrated Wealth Concepts LLC now owns 435,481 shares of the company's stock worth $6,576,000 after purchasing an additional 5,661 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Klaviyo by 1,343.5% during the second quarter. Squarepoint Ops LLC now owns 962,136 shares of the company's stock worth $14,528,000 after purchasing an additional 895,485 shares in the last quarter. 45.43% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
KVYO has been the subject of a number of research reports. Stifel Nicolaus set a $22.00 price objective on Klaviyo in a research report on Thursday, September 10th. The Goldman Sachs Group set a $26.00 target price on shares of Klaviyo and gave the company a "buy" rating in a research report on Wednesday, June 24th. Scotiabank set a $32.00 target price on shares of Klaviyo in a research note on Wednesday, June 17th. Citigroup reiterated a "buy" rating on shares of Klaviyo in a research report on Tuesday, September 8th. Finally, Needham & Company LLC reissued a "buy" rating on shares of Klaviyo in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.14.
Read Our Latest Report on KVYO
About Klaviyo
(
Get Free Report)
Klaviyo, Inc (NYSE: KVYO) provides a marketing automation and customer data platform designed primarily for businesses that sell directly to consumers. Its software helps companies collect, organize and analyze customer data, then use that information to create targeted and personalized marketing campaigns.
The company's platform supports email, SMS and mobile push messaging, as well as automated workflows, audience segmentation, customer analytics, sign-up forms and related campaign-management tools.
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