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

Klaviyo, Inc. (NYSE:KVYO) insider Landon Edmond sold 40,000 shares of the stock in a transaction dated Monday, November 18th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Klaviyo Stock Down 0.9 %

NYSE KVYO opened at $34.47 on Wednesday. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $41.00. The company has a 50 day moving average price of $35.96 and a 200 day moving average price of $29.38. The firm has a market cap of $9.29 billion, a PE ratio of -191.50 and a beta of 1.13.

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 for the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.24) earnings per share. On average, equities research analysts anticipate that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its stake in shares of Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the last quarter. nVerses Capital LLC purchased a new stake in Klaviyo during the 3rd quarter worth approximately $53,000. EntryPoint Capital LLC purchased a new stake in Klaviyo during the 1st quarter worth approximately $71,000. West Tower Group LLC acquired a new position in Klaviyo during the 3rd quarter valued at approximately $177,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Klaviyo in the third quarter worth $208,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KVYO. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research report on Thursday, August 8th. Cantor Fitzgerald lifted their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC upped their target price on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler raised their target price on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.