Klaviyo, Inc. (NYSE:KVYO) Short Interest Update

Klaviyo, Inc. (NYSE:KVYO) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 5,800,000 shares, a decline of 24.6% from the November 15th total of 7,690,000 shares. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 4.8 days. Approximately 11.1% of the company’s shares are short sold.

Klaviyo Stock Performance

KVYO stock traded down $0.18 during mid-day trading on Friday, hitting $39.06. The company had a trading volume of 910,807 shares, compared to its average volume of 1,180,864. The firm has a market cap of $10.53 billion, a PE ratio of -217.00 and a beta of 0.97. Klaviyo has a 12 month low of $21.26 and a 12 month high of $41.00. The stock’s fifty day moving average price is $37.41 and its two-hundred day moving average price is $31.10.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter in the previous year, the firm posted ($1.24) EPS. Klaviyo’s revenue was up 33.7% on a year-over-year basis. Equities analysts anticipate that Klaviyo will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays raised their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Benchmark cut their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Piper Sandler increased their price objective on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Cantor Fitzgerald lifted their target price on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, KeyCorp increased their price target on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.69.

Insider Activity

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.85, for a total value of $4,140,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amanda Whalen sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,764 shares of company stock worth $9,383,087 in the last quarter. 53.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the period. nVerses Capital LLC bought a new stake in Klaviyo during the 3rd quarter valued at $53,000. West Tower Group LLC purchased a new stake in shares of Klaviyo during the third quarter worth $177,000. Victory Capital Management Inc. bought a new position in shares of Klaviyo in the third quarter worth $208,000. Finally, SG Americas Securities LLC purchased a new position in shares of Klaviyo in the second quarter valued at $236,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.