Short Interest in Klaviyo, Inc. (NYSE:KVYO) Increases By 27.8%

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 5,570,000 shares, an increase of 27.8% from the March 15th total of 4,360,000 shares. Currently, 8.7% of the company's stock are sold short. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is presently 3.7 days.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KVYO shares. Piper Sandler decreased their price target on Klaviyo from $53.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Klaviyo from $45.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Stephens initiated coverage on shares of Klaviyo in a research report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target for the company. Cantor Fitzgerald increased their target price on shares of Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group increased their price objective on Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $44.21.

Klaviyo Stock Up 9.5 %

Shares of KVYO traded up $2.32 during trading hours on Wednesday, hitting $26.77. The company had a trading volume of 1,621,323 shares, compared to its average volume of 1,310,372. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The stock's 50 day moving average price is $33.51 and its 200 day moving average price is $37.90. The firm has a market cap of $7.31 billion, a P/E ratio of -148.72 and a beta of 1.39.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The firm had revenue of $270.16 million during the quarter, compared to analysts' expectations of $257.24 million. On average, research analysts expect that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Jeff Fagnan purchased 3,900 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the acquisition, the insider now owns 3,900 shares of the company's stock, valued at $100,503. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,088,770 shares of company stock worth $67,947,356 in the last ninety days. Corporate insiders own 53.24% of the company's stock.

Institutional Trading of Klaviyo

Large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC lifted its holdings in Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock worth $72,000 after buying an additional 1,102 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Klaviyo by 77.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock valued at $77,000 after acquiring an additional 818 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Klaviyo in the fourth quarter valued at $196,000. US Bancorp DE purchased a new position in Klaviyo during the 4th quarter valued at $199,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Klaviyo by 8.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock worth $220,000 after purchasing an additional 359 shares during the period. 45.43% of the stock is owned by institutional investors.

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.