Insider Selling: Klaviyo, Inc. (NYSE:KVYO) Insider Sells $653,415.32 in Stock

Klaviyo, Inc. (NYSE:KVYO) insider Landon Edmond sold 21,766 shares of the company’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 transaction, the insider now directly owns 260,413 shares in the company, valued at $7,817,598.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Klaviyo Trading Up 1.0 %

KVYO opened at $31.09 on Monday. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $39.47. The company’s 50-day moving average price is $24.23 and its two-hundred day moving average price is $24.95.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. During the same quarter in the previous year, the company posted $0.09 EPS. Klaviyo’s revenue for the quarter was up 35.0% on a year-over-year basis. Sell-side analysts expect that Klaviyo, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KVYO. Salem Investment Counselors Inc. lifted its holdings in Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after purchasing an additional 1,450 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Klaviyo during the 1st quarter valued at approximately $71,000. New York State Common Retirement Fund boosted its holdings in Klaviyo by 191.0% in the 4th quarter. New York State Common Retirement Fund now owns 5,485 shares of the company’s stock worth $152,000 after buying an additional 3,600 shares during the period. SG Americas Securities LLC purchased a new position in Klaviyo in the 2nd quarter valued at approximately $236,000. Finally, SVB Wealth LLC bought a new stake in Klaviyo during the 1st quarter valued at $299,000. Institutional investors own 45.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on KVYO. Piper Sandler upped their price objective on shares of Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley dropped their price target on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a report on Thursday. Mizuho dropped their target price on Klaviyo from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Cantor Fitzgerald lifted their target price on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

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.