Klaviyo (NYSE:KVYO) Sets New 52-Week High - Here's What Happened

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $49.29 and last traded at $49.01, with a volume of 284697 shares changing hands. The stock had previously closed at $46.96.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus began coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a "buy" rating and a $45.00 price objective on the stock. Loop Capital increased their price target on shares of Klaviyo from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Citigroup lifted their price objective on Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday. Piper Sandler increased their target price on Klaviyo from $45.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Finally, Canaccord Genuity Group lifted their price target on Klaviyo from $32.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.29.

Klaviyo Stock Up 1.1 %

The stock has a market cap of $12.93 billion, a PE ratio of -266.42 and a beta of 0.60. The stock's fifty day moving average price is $42.77 and its 200 day moving average price is $36.99.

Insider Activity at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $518,400.00. Following the transaction, the chief financial officer now owns 395,616 shares in the company, valued at $13,672,488.96. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,072 shares of company stock valued at $6,778,517. 53.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its holdings in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock worth $48,000 after acquiring an additional 808 shares in the last quarter. nVerses Capital LLC bought a new stake in Klaviyo during the third quarter worth approximately $53,000. CIBC Private Wealth Group LLC raised its stake in shares of Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after acquiring an additional 1,102 shares during the period. West Tower Group LLC bought a new stake in shares of Klaviyo during the 3rd quarter worth approximately $177,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Klaviyo in the fourth quarter worth about $196,000. Institutional investors own 45.43% of the company's stock.

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.