Stephen Eric Rowland Sells 18,114 Shares of Klaviyo, Inc. (NYSE:KVYO) Stock

Klaviyo, Inc. (NYSE:KVYO) President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.24, for a total value of $565,881.36. Following the completion of the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $6,013,325.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Stephen Eric Rowland also recently made the following trade(s):

• On Friday, August 16th, Stephen Eric Rowland sold 18,114 shares of Klaviyo stock. The stock was sold at an average price of $31.67, for a total transaction of $573,670.38.

Klaviyo Stock Performance

KVYO stock opened at $33.48 on Friday. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $39.47. The business has a 50 day simple moving average of $29.01 and a two-hundred day simple moving average of $25.68.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. Klaviyo’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. Equities analysts predict that Klaviyo, Inc. will post -0.01 EPS for the current year.

Institutional Investors Weigh In On Klaviyo

Several large investors have recently made changes to their positions in KVYO. Point72 Asset Management L.P. bought a new position in Klaviyo during the second quarter valued at approximately $2,685,000. Millennium Management LLC boosted its position in shares of Klaviyo by 53.6% during the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after acquiring an additional 390,849 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Klaviyo by 13.7% in the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after purchasing an additional 2,851 shares in the last quarter. Diker Management LLC increased its position in Klaviyo by 33.3% in the second quarter. Diker Management LLC now owns 200,000 shares of the company’s stock worth $4,978,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Klaviyo during the second quarter valued at $3,157,000. 45.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KVYO shares. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a report on Wednesday, September 4th. Piper Sandler lifted their price objective on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Barclays upped their price objective on Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald raised their target price on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, KeyCorp raised shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.65.

About Klaviyo

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.