Klaviyo, Inc. (NYSE:KVYO) Sees Significant Decline in Short Interest

by · The Cerbat Gem

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

Insider Transactions at Klaviyo

In related news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the sale, the president now directly owns 192,488 shares of the company’s stock, valued at $7,158,628.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the transaction, the president now owns 192,488 shares of the company’s stock, valued at $7,158,628.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Summit Partners L. P sold 1,300 shares of Klaviyo stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $31.64, for a total value of $41,132.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 871,477 shares of company stock valued at $27,610,861. 53.24% of the stock is currently owned by company insiders.

Institutional Trading of Klaviyo

Several institutional investors have recently modified their holdings of KVYO. Janus Henderson Group PLC acquired a new stake in shares of Klaviyo in the 1st quarter valued at about $662,000. Swiss National Bank acquired a new stake in shares of Klaviyo in the first quarter valued at approximately $1,776,000. Blair William & Co. IL grew its position in shares of Klaviyo by 1,234.0% during the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after acquiring an additional 162,373 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Klaviyo in the 2nd quarter valued at $747,000. Finally, Clearbridge Investments LLC increased its holdings in shares of Klaviyo by 1.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock valued at $56,201,000 after acquiring an additional 31,587 shares during the period. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Price Performance

NYSE KVYO traded down $0.61 on Thursday, hitting $38.01. The company had a trading volume of 834,180 shares, compared to its average volume of 1,119,615. The company’s fifty day moving average price is $34.52 and its 200-day moving average price is $28.06. Klaviyo has a 12-month low of $21.26 and a 12-month high of $39.92. The company has a market capitalization of $10.14 billion and a PE ratio of -26.96.

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 analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. During the same period in the prior year, the business earned $0.09 earnings per share. The business’s revenue was up 35.0% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Stifel Nicolaus began coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price on the stock. Barclays raised their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Benchmark reiterated a “buy” rating and issued a $42.00 price objective on shares of Klaviyo in a report on Thursday, October 24th. Piper Sandler raised their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Macquarie initiated coverage on Klaviyo in a research report on Thursday. They issued a “neutral” rating and a $36.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and a consensus target price of $37.29.

View Our Latest Stock Report on Klaviyo

Klaviyo Company Profile

(Get Free Report)

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.

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