Insider Selling: Klaviyo, Inc. (NYSE:KVYO) Major Shareholder Sells 4,000,000 Shares of Stock

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total value of $133,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Klaviyo Trading Up 0.3%

KVYO stock traded up $0.11 during mid-day trading on Friday, hitting $34.06. 1,673,036 shares of the company were exchanged, compared to its average volume of 1,524,210. The company has a market capitalization of $10.12 billion, a PE ratio of -189.22 and a beta of 1.44. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The firm has a fifty day simple moving average of $30.90 and a 200 day simple moving average of $36.98.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $279.83 million during the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. Klaviyo's revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on KVYO shares. Stephens initiated coverage on Klaviyo in a research note on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target on the stock. Piper Sandler boosted their price objective on Klaviyo from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Benchmark upped their price target on Klaviyo from $43.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley decreased their price target on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Scotiabank set a $35.00 price objective on Klaviyo and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Klaviyo has a consensus rating of "Moderate Buy" and an average target price of $42.79.

Institutional Trading of Klaviyo

Large investors have recently added to or reduced their stakes in the business. TFC Financial Management Inc. bought a new stake in Klaviyo in the 1st quarter valued at $27,000. CWM LLC lifted its holdings in shares of Klaviyo by 227.5% during the 1st quarter. CWM LLC now owns 930 shares of the company's stock worth $28,000 after acquiring an additional 646 shares during the period. State of Wyoming bought a new position in shares of Klaviyo during the 1st quarter worth about $42,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Klaviyo by 217.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company's stock worth $43,000 after acquiring an additional 974 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock worth $72,000 after acquiring an additional 1,102 shares during the period. 45.43% of the stock is owned by institutional investors.

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.