Klaviyo (NYSE:KVYO) Director Ed Hallen Sells 97,482 Shares of Stock

Key Points

• Klaviyo Director Ed Hallen sold 97,482 shares at an average price of $17.40, generating approximately $1.70 million. The Rule 10b5-1 transaction reduced his position by 63.81%, leaving him with 55,290 shares.
• Klaviyo shares fell 1.4% to $17.33, while the company has a market capitalization of about $4.93 billion. Its stock has traded between $12.53 and $33.35 over the past year.
• The company’s latest quarterly results met earnings expectations and exceeded revenue forecasts, with revenue rising 26.4% year over year to $370.58 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $27.14.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) Director Ed Hallen sold 97,482 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $17.40, for a total value of $1,696,186.80. Following the transaction, the director owned 55,290 shares in the company, valued at approximately $962,046. This trade represents a 63.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 24th, Ed Hallen sold 1,300 shares of Klaviyo stock. The stock was sold at an average price of $17.02, for a total transaction of $22,126.00.
• On Monday, August 31st, Ed Hallen sold 98,782 shares of Klaviyo stock. The shares were sold at an average price of $20.48, for a total value of $2,023,055.36.

Klaviyo Stock Down 1.4%

KVYO traded down $0.24 during midday trading on Friday, reaching $17.33. 3,746,595 shares of the company's stock were exchanged, compared to its average volume of 5,652,875. Klaviyo, Inc. has a one year low of $12.53 and a one year high of $33.35. The business has a 50-day simple moving average of $17.51 and a two-hundred day simple moving average of $17.03. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 866.78 and a beta of 0.67.

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

Institutional Trading of Klaviyo

Large investors have recently made changes to their positions in the company. Sands Capital Alternatives LLC raised its position in Klaviyo by 3.8% in the 4th quarter. Sands Capital Alternatives LLC now owns 3,649,678 shares of the company's stock valued at $118,505,000 after buying an additional 134,613 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Klaviyo by 88.9% in the 1st quarter. Bank of America Corp DE now owns 1,686,770 shares of the company's stock worth $32,825,000 after acquiring an additional 793,613 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Klaviyo by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,508,137 shares of the company's stock worth $29,348,000 after acquiring an additional 123,480 shares in the last quarter. Delta Global Management LP raised its holdings in shares of Klaviyo by 52.7% in the fourth quarter. Delta Global Management LP now owns 785,308 shares of the company's stock valued at $25,499,000 after purchasing an additional 270,944 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Klaviyo by 46.5% during the first quarter. First Trust Advisors LP now owns 1,181,887 shares of the company's stock valued at $23,000,000 after purchasing an additional 374,959 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on KVYO. Wells Fargo & Company set a $29.00 price objective on shares of Klaviyo in a research report on Thursday, August 6th. TD Cowen lowered their price objective on Klaviyo from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Stephens lifted their price target on shares of Klaviyo from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Piper Sandler dropped their price target on Klaviyo from $26.00 to $23.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Finally, Morgan Stanley set a $31.00 target price on Klaviyo in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Klaviyo currently has an average rating of "Moderate Buy" and an average target price of $27.14.

About Klaviyo

Klaviyo, Inc NYSE: KVYO provides a marketing automation and customer data platform designed primarily for businesses that sell directly to consumers. Its software helps companies collect, organize and analyze customer data, then use that information to create targeted and personalized marketing campaigns.

The company's platform supports email, SMS and mobile push messaging, as well as automated workflows, audience segmentation, customer analytics, sign-up forms and related campaign-management tools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.