Klaviyo (NYSE:KVYO) Price Target Raised to $48.00

Klaviyo (NYSE:KVYO - Free Report) had its target price hoisted by Wells Fargo & Company from $41.00 to $48.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also recently weighed in on KVYO. Piper Sandler increased their price objective on Klaviyo from $45.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Canaccord Genuity Group increased their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus started coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a "buy" rating and a $45.00 price objective for the company. William Blair reissued an "outperform" rating on shares of Klaviyo in a research note on Thursday, December 19th. Finally, Loop Capital increased their target price on Klaviyo from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.29.

Klaviyo Stock Down 2.1 %

NYSE KVYO traded down $0.99 during trading hours on Wednesday, hitting $47.01. 1,458,917 shares of the company were exchanged, compared to its average volume of 1,069,195. The company has a 50 day moving average of $43.11 and a two-hundred day moving average of $37.29. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of -261.17 and a beta of 0.60. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55.

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the transaction, the chief financial officer now owns 376,820 shares of the company's stock, valued at $17,277,197. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares of the company's stock, valued at $6,455,289.60. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,072 shares of company stock worth $6,778,517 over the last ninety days. Company insiders own 53.24% of the company's stock.

Institutional Trading of Klaviyo

Several large investors have recently added to or reduced their stakes in KVYO. Lisanti Capital Growth LLC bought a new position in shares of Klaviyo in the third quarter valued at approximately $5,513,000. Pier 88 Investment Partners LLC bought a new position in shares of Klaviyo during the third quarter worth $966,000. SpiderRock Advisors LLC boosted its position in shares of Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock worth $17,743,000 after purchasing an additional 471,500 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Klaviyo during the third quarter worth $5,113,000. Finally, Renaissance Capital LLC lifted its position in Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock valued at $5,058,000 after acquiring an additional 44,245 shares in the last quarter. 45.43% of the stock is owned by institutional investors.

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.