Short Interest in Klaviyo, Inc. (NYSE:KVYO) Increases By 30.0%

Klaviyo, Inc. (NYSE:KVYO) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 8,460,000 shares, a growth of 30.0% from the May 31st total of 6,510,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is presently 7.4 days. Approximately 12.0% of the shares of the stock are sold short.

Insider Activity

In related news, insider Landon Edmond sold 3,545 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $24.15, for a total transaction of $85,611.75. Following the transaction, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jennifer Ceran sold 13,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.65, for a total transaction of $320,450.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Landon Edmond sold 3,545 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $24.15, for a total transaction of $85,611.75. Following the transaction, the insider now owns 167,127 shares in the company, valued at $4,036,117.05. The disclosure for this sale can be found here. Corporate insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new stake in shares of Klaviyo during the first quarter worth about $818,000. Janus Henderson Group PLC purchased a new stake in shares of Klaviyo during the first quarter worth about $662,000. Whale Rock Capital Management LLC increased its stake in shares of Klaviyo by 122.0% during the first quarter. Whale Rock Capital Management LLC now owns 579,113 shares of the company’s stock worth $14,756,000 after purchasing an additional 318,217 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Klaviyo during the first quarter worth about $299,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Klaviyo during the first quarter worth about $71,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Down 2.1 %

KVYO traded down $0.52 on Monday, reaching $24.37. The stock had a trading volume of 679,720 shares, compared to its average volume of 1,195,990. Klaviyo has a 12-month low of $21.26 and a 12-month high of $39.47. The business’s 50-day moving average price is $23.21 and its two-hundred day moving average price is $25.36.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $202.08 million. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. On average, research analysts expect that Klaviyo will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Canaccord Genuity Group dropped their price objective on shares of Klaviyo from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Barclays upgraded shares of Klaviyo from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $29.00 in a research note on Wednesday, June 12th. Mizuho dropped their price objective on shares of Klaviyo from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, FBN Securities initiated coverage on shares of Klaviyo in a research note on Wednesday, March 20th. They set an “outperform” rating and a $35.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.75.

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.