Klaviyo (NYSE:KVYO) Director Ed Hallen Sells 1,300 Shares of Company Stock

Key Points

• Klaviyo Director Ed Hallen sold 1,300 shares at an average price of $17.02, generating $22,126; the transaction was conducted under a pre-arranged Rule 10b5-1 plan. He retains 93,957 shares.
• Klaviyo shares fell 2.0% to $15.79, with the stock trading between a 52-week range of $12.53 and $33.35. The company has a market capitalization of approximately $4.5 billion.
• Klaviyo’s latest quarterly revenue rose 26.4% year over year to $370.58 million, while earnings matched estimates at $0.19 per share. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $27.14.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) Director Ed Hallen sold 1,300 shares of Klaviyo stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $17.02, for a total value of $22,126.00. Following the transaction, the director directly owned 93,957 shares in the company, valued at approximately $1,599,148.14. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ed Hallen also recently made the following trade(s):

• On Monday, August 31st, Ed Hallen sold 98,782 shares of Klaviyo stock. The stock was sold at an average price of $20.48, for a total transaction of $2,023,055.36.

Klaviyo Trading Down 2.0%

NYSE KVYO traded down $0.32 on Friday, reaching $15.79. 3,778,525 shares of the stock were exchanged, compared to its average volume of 5,650,102. Klaviyo, Inc. has a one year low of $12.53 and a one year high of $33.35. The firm has a market capitalization of $4.50 billion, a PE ratio of 790.10 and a beta of 0.57. The company's 50-day simple moving average is $17.78 and its two-hundred day simple moving average is $17.25.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts' consensus estimates of $0.19. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The business had revenue of $370.58 million during the quarter, compared to analyst estimates of $362.08 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company's revenue was up 26.4% on a year-over-year basis. Sell-side analysts forecast that Klaviyo, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Trading of Klaviyo

Several hedge funds have recently modified their holdings of KVYO. Capital International Investors acquired a new position in Klaviyo during the 4th quarter valued at approximately $415,254,000. Norges Bank purchased a new stake in Klaviyo in the fourth quarter valued at approximately $49,300,000. Capital World Investors purchased a new stake in Klaviyo in the fourth quarter valued at approximately $37,273,000. Fiera Capital Corp increased its holdings in Klaviyo by 87.7% in the 4th quarter. Fiera Capital Corp now owns 2,331,650 shares of the company's stock worth $75,709,000 after buying an additional 1,089,704 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Klaviyo by 1,343.5% in the 2nd quarter. Squarepoint Ops LLC now owns 962,136 shares of the company's stock worth $14,528,000 after buying an additional 895,485 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $21.00 price objective on shares of Klaviyo in a research report on Thursday, August 6th. Stifel Nicolaus set a $22.00 price target on Klaviyo in a report on Thursday, September 10th. Piper Sandler dropped their price objective on Klaviyo from $26.00 to $23.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th. Wells Fargo & Company set a $29.00 price objective on Klaviyo in a report on Thursday, August 6th. Finally, The Goldman Sachs Group set a $26.00 target price on Klaviyo and gave the company a "buy" rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Klaviyo presently has a consensus rating of "Moderate Buy" and an average target price of $27.14.

Klaviyo Company Profile

Klaviyo, Inc is a technology company that provides a customer data and marketing automation platform for businesses. Its software helps brands collect, organize and analyze customer information, then use those insights to create targeted communications and personalized marketing campaigns.

The company's platform supports marketing channels including email, SMS messaging, mobile push notifications and on-site experiences. Klaviyo also provides tools for customer segmentation, campaign automation, analytics and reporting, and integrates with e-commerce, payment and other business applications.

Klaviyo primarily serves consumer-focused businesses, including e-commerce brands, retailers and other companies seeking to build direct relationships with customers.

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