Klaviyo (NYSE:KVYO) Reaches New 12-Month High – Here’s What Happened

Shares of Klaviyo, Inc. (NYSE:KVYO) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $39.19 and last traded at $38.85, with a volume of 83282 shares trading hands. The stock had previously closed at $38.27.

Analyst Ratings Changes

Several research firms have weighed in on KVYO. Stifel Nicolaus assumed coverage on Klaviyo in a research report on Tuesday. They set a “buy” rating and a $45.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Klaviyo in a research report on Wednesday, September 4th. Benchmark restated a “buy” rating and issued a $42.00 target price on shares of Klaviyo in a report on Thursday. KeyCorp raised shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald upped their price objective 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. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Klaviyo presently has a consensus rating of “Moderate Buy” and an average price target of $37.38.

Klaviyo Trading Up 1.5 %

The stock’s 50-day moving average is $33.68 and its 200-day moving average is $27.47. The stock has a market cap of $10.28 billion and a price-to-earnings ratio of -27.66.

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

Insider Transactions at Klaviyo

In related news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $35.36, for a total transaction of $353,600.00. Following the completion of the transaction, the chief financial officer now directly owns 422,813 shares in the company, valued at approximately $14,950,667.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the sale, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 871,477 shares of company stock valued at $27,610,861. Corporate insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Claro Advisors LLC bought a new position in shares of Klaviyo during the first quarter worth about $23,510,000. Capstone Investment Advisors LLC lifted its holdings in Klaviyo by 17.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 146,368 shares of the company’s stock worth $3,729,000 after buying an additional 21,296 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Klaviyo by 82.8% in the 1st quarter. Quantbot Technologies LP now owns 54,424 shares of the company’s stock worth $1,387,000 after acquiring an additional 24,651 shares in the last quarter. Wealthspire Advisors LLC bought a new stake in shares of Klaviyo in the 1st quarter valued at approximately $364,000. Finally, Glynn Capital Management LLC raised its position in shares of Klaviyo by 291.3% during the 1st quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock valued at $29,030,000 after acquiring an additional 848,152 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.