Short Interest in Klaviyo, Inc. (NYSE:KVYO) Drops By 14.4%

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 8,320,000 shares, a drop of 14.4% from the September 30th total of 9,720,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is currently 7.4 days. Currently, 18.3% of the shares of the stock are short sold.

Klaviyo Stock Down 0.0 %

NYSE:KVYO traded down $0.01 on Tuesday, hitting $39.22. The stock had a trading volume of 558,429 shares, compared to its average volume of 1,123,632. Klaviyo has a 52 week low of $21.26 and a 52 week high of $39.77. The business's fifty day moving average is $34.25 and its 200 day moving average is $27.92. The company has a market cap of $10.38 billion and a PE ratio of -27.82.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. During the same quarter last year, the firm posted $0.09 EPS. Klaviyo's revenue was up 35.0% compared to the same quarter last year.

Insider Buying and Selling at Klaviyo

In other news, major shareholder Jeff Fagnan acquired 9,485 shares of Klaviyo stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $26.43 per share, for a total transaction of $250,688.55. Following the transaction, the insider now directly owns 9,485 shares of the company's stock, valued at approximately $250,688.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.67, for a total transaction of $573,670.38. Following the transaction, the president now owns 192,488 shares in the company, valued at approximately $6,096,094.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jeff Fagnan acquired 9,485 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares of the company's stock, valued at $250,688.55. The disclosure for this purchase can be found here. Insiders have sold 871,477 shares of company stock worth $27,610,861 over the last quarter. Corporate insiders own 53.24% of the company's stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently made changes to their positions in KVYO. nVerses Capital LLC acquired a new position in Klaviyo during the 3rd quarter valued at about $53,000. EntryPoint Capital LLC bought a new stake in Klaviyo during the first quarter worth $71,000. SG Americas Securities LLC purchased a new stake in Klaviyo in the 2nd quarter valued at $236,000. William Marsh Rice University purchased a new stake in Klaviyo in the 3rd quarter valued at $245,000. Finally, Creative Planning bought a new position in Klaviyo during the 3rd quarter valued at $254,000. Institutional investors and hedge funds own 45.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KVYO. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Benchmark reissued a "buy" rating and set a $42.00 target price on shares of Klaviyo in a research report on Thursday, October 24th. Stifel Nicolaus started coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They set a "buy" rating and a $45.00 price target for the company. Wells Fargo & Company reaffirmed a "buy" rating on shares of Klaviyo in a research note on Friday, October 18th. Finally, KeyCorp raised shares of Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 target price for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Klaviyo has an average rating of "Moderate Buy" and an average target price of $37.38.

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.