Insider Selling: Klaviyo, Inc. (NYSE:KVYO) CTO Sells $4,140,500.00 in Stock

Klaviyo, Inc. (NYSE:KVYO) CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.85, for a total value of $4,140,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Allen Chaves also recently made the following trade(s):

• On Monday, August 12th, Allen Chaves sold 130,000 shares of Klaviyo stock. The stock was sold at an average price of $31.59, for a total transaction of $4,106,700.00.

Klaviyo Price Performance

Shares of Klaviyo stock opened at $34.04 on Friday. The stock has a 50 day moving average of $29.21 and a 200 day moving average of $25.73. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $37.36.

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

Institutional Trading of Klaviyo

Hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. increased its stake in Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after acquiring an additional 1,450 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Klaviyo during the 1st quarter valued at $71,000. Dark Forest Capital Management LP lifted its position in Klaviyo by 13.7% in the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock worth $590,000 after buying an additional 2,851 shares during the last quarter. Arizona State Retirement System boosted its stake in Klaviyo by 67.1% during the second quarter. Arizona State Retirement System now owns 16,221 shares of the company’s stock worth $404,000 after buying an additional 6,512 shares during the period. Finally, Moody National Bank Trust Division increased its position in Klaviyo by 87.9% during the first quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock valued at $398,000 after acquiring an additional 7,316 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KVYO shares. 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 report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a report on Wednesday, September 4th. Piper Sandler boosted their price target on Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Cantor Fitzgerald upped their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Barclays lifted 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. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.