Short Interest in Klaviyo, Inc. (NYSE:KVYO) Decreases By 14.4%

Klaviyo, Inc. (NYSE:KVYO) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 8,320,000 shares, a decrease of 14.4% from the September 30th total of 9,720,000 shares. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is currently 7.4 days. Currently, 18.3% of the company’s shares are sold short.

Insider Activity at Klaviyo

In other news, CFO Amanda Whalen sold 60,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the sale, the chief financial officer now directly owns 435,993 shares in the company, valued at $13,180,068.39. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Amanda Whalen sold 60,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the sale, the chief financial officer now owns 435,993 shares in the company, valued at $13,180,068.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Landon Edmond sold 21,766 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.02, for a total value of $653,415.32. Following the sale, the insider now directly owns 260,413 shares of the company’s stock, valued at $7,817,598.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 871,477 shares of company stock worth $27,610,861 over the last ninety days. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds have recently bought and sold shares of KVYO. nVerses Capital LLC purchased a new stake in shares of Klaviyo in the third quarter worth $53,000. EntryPoint Capital LLC purchased a new position in Klaviyo during the first quarter valued at $71,000. SG Americas Securities LLC bought a new stake in Klaviyo in the 2nd quarter valued at $236,000. William Marsh Rice University purchased a new stake in Klaviyo in the 3rd quarter worth $245,000. Finally, Creative Planning purchased a new stake in shares of Klaviyo in the third quarter worth about $254,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Down 1.6 %

Shares of NYSE:KVYO traded down $0.61 on Thursday, hitting $38.01. 834,180 shares of the company traded hands, compared to its average volume of 1,119,615. The stock has a 50 day simple moving average of $34.52 and a 200-day simple moving average of $28.06. The company has a market cap of $10.14 billion and a PE ratio of -26.96. Klaviyo has a 52 week low of $21.26 and a 52 week high of $39.92.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same quarter last year, the firm posted $0.09 EPS. The business’s quarterly revenue was up 35.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

KVYO has been the subject of a number of research reports. Barclays raised their price target on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a research report on Wednesday, September 4th. Piper Sandler increased their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Klaviyo in a research note on Thursday, October 24th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.29.

Klaviyo Company Profile

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.