Landon Edmond Sells 40,000 Shares of Klaviyo, Inc. (NYSE:KVYO) Stock

Klaviyo, Inc. (NYSE:KVYO) insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the transaction, the insider now directly owns 298,607 shares of the company’s stock, valued at $12,481,772.60. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Landon Edmond also recently made the following trade(s):

• On Monday, November 18th, Landon Edmond sold 40,000 shares of Klaviyo stock. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00.

Klaviyo Stock Performance

NYSE:KVYO opened at $39.39 on Friday. The company has a market capitalization of $10.62 billion, a PE ratio of -218.82 and a beta of 0.57. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $44.77. The company has a 50 day simple moving average of $39.24 and a two-hundred day simple moving average of $33.84.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. Klaviyo’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned ($1.24) earnings per share. Research analysts predict that Klaviyo, Inc. will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Klaviyo in the 3rd quarter valued at $53,000. West Tower Group LLC acquired a new position in shares of Klaviyo during the 3rd quarter valued at $177,000. Victory Capital Management Inc. bought a new position in Klaviyo during the third quarter worth $208,000. Finally, William Marsh Rice University acquired a new stake in Klaviyo in the third quarter worth $245,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KVYO. Benchmark dropped their price objective on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Piper Sandler boosted their price objective on Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Loop Capital boosted their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Barclays increased their price target on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Needham & Company LLC upped their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.41.

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.