Klaviyo (NYSE:KVYO) Shares Up 4.3% - Here's What Happened

Shares of Klaviyo, Inc. (NYSE:KVYO - Get Free Report) were up 4.3% during trading on Tuesday . The stock traded as high as $43.74 and last traded at $43.40. Approximately 853,646 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 1,182,333 shares. The stock had previously closed at $41.63.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KVYO. Benchmark lowered their target price on shares of Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Needham & Company LLC increased their price target on Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus initiated coverage on Klaviyo in a research report on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 price objective for the company. Barclays upped their price target on shares of Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company restated 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 fourteen have given a buy rating to the stock. According to MarketBeat, Klaviyo currently has an average rating of "Moderate Buy" and a consensus target price of $39.69.

Klaviyo Price Performance

The business has a 50 day moving average of $37.69 and a 200 day moving average of $31.44. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of -239.89 and a beta of 0.97.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company had revenue of $235.09 million during the quarter, compared to analysts' expectations of $226.33 million. During the same period in the prior year, the business posted ($1.24) EPS. Klaviyo's revenue was up 33.7% on a year-over-year basis. As a group, equities analysts predict that Klaviyo, Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling

In related news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction that occurred 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 sale, the president now owns 186,785 shares of the company's stock, valued at approximately $6,455,289.60. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 1,050 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at $15,852,333.12. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,650 shares of company stock valued at $4,676,705. 53.24% of the stock is owned by company insiders.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently made changes to their positions in KVYO. Whale Rock Capital Management LLC grew its position in Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company's stock valued at $127,389,000 after purchasing an additional 3,092,725 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Klaviyo by 677.7% in the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock valued at $68,749,000 after acquiring an additional 2,406,973 shares during the last quarter. Glynn Capital Management LLC increased its position in shares of Klaviyo by 19.7% in the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company's stock valued at $33,944,000 after acquiring an additional 224,461 shares during the last quarter. Claro Advisors LLC raised its holdings in Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock worth $31,860,000 after acquiring an additional 357,355 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Klaviyo by 53.6% during the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock valued at $27,889,000 after purchasing an additional 390,849 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.