Short Interest in Klaviyo, Inc. (NYSE:KVYO) Drops By 39.0%

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 5,670,000 shares, a decrease of 39.0% from the May 15th total of 9,300,000 shares. Based on an average trading volume of 2,280,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 7.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KVYO shares. Barclays upped their price objective on Klaviyo from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. William Blair reiterated an "outperform" rating on shares of Klaviyo in a report on Thursday, February 20th. The Goldman Sachs Group cut their price objective on Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Mizuho cut their price objective on Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Piper Sandler upped their price objective on Klaviyo from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.21.

Klaviyo Stock Performance

KVYO stock traded down $0.59 during trading on Thursday, hitting $33.81. 1,605,261 shares of the company traded hands, compared to its average volume of 1,548,171. The firm has a market capitalization of $10.04 billion, a PE ratio of -187.80 and a beta of 1.44. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55. The company has a 50-day moving average of $32.05 and a 200-day moving average of $36.80.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.74% and a negative net margin of 4.70%. The company had revenue of $279.83 million during the quarter, compared to analysts' expectations of $267.79 million. During the same period in the prior year, the business posted $0.13 EPS. Klaviyo's quarterly revenue was up 33.3% compared to the same quarter last year. Sell-side analysts expect that Klaviyo will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 7,060 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $26.66, for a total value of $188,219.60. Following the transaction, the president now directly owns 447,310 shares in the company, valued at $11,925,284.60. This represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jeff Fagnan bought 3,900 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was acquired at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the purchase, the insider now directly owns 3,900 shares in the company, valued at approximately $100,503. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 8,087,320 shares of company stock worth $268,247,195 in the last ninety days. 49.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently bought and sold shares of KVYO. Focus Partners Wealth purchased a new stake in Klaviyo in the 4th quarter worth approximately $38,870,000. D. E. Shaw & Co. Inc. lifted its holdings in Klaviyo by 195.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company's stock worth $54,034,000 after buying an additional 866,749 shares during the period. Lord Abbett & CO. LLC lifted its holdings in Klaviyo by 105.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company's stock worth $46,546,000 after buying an additional 790,146 shares during the period. Vanguard Group Inc. lifted its holdings in Klaviyo by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock worth $256,240,000 after buying an additional 746,078 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Klaviyo by 229.5% in the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company's stock worth $40,507,000 after buying an additional 684,026 shares during the period. Hedge funds and other institutional investors own 45.43% of the company's stock.

Klaviyo Company Profile

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.