Klaviyo, Inc. (NYSE:KVYO) Short Interest Up 27.8% in March

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 5,570,000 shares, a growth of 27.8% from the March 15th total of 4,360,000 shares. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is currently 3.7 days. Approximately 8.7% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of Klaviyo from $47.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Morgan Stanley decreased their price objective on shares of Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird cut their target price on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday. Benchmark increased their price target on shares of Klaviyo from $40.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC boosted their price objective on Klaviyo from $46.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.47.

Insider Activity

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Eric Rowland sold 36,710 shares of Klaviyo stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $35.08, for a total value of $1,287,786.80. Following the sale, the president now directly owns 246,254 shares in the company, valued at approximately $8,638,590.32. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,088,770 shares of company stock worth $67,947,356 over the last 90 days. Company insiders own 53.24% of the company's stock.

Institutional Investors Weigh In On Klaviyo

Several institutional investors have recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock worth $220,000 after buying an additional 359 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Klaviyo by 10.3% during the fourth quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock valued at $267,000 after acquiring an additional 604 shares during the period. Arizona State Retirement System raised its holdings in Klaviyo by 4.0% during the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock worth $695,000 after purchasing an additional 648 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Klaviyo by 5.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company's stock worth $589,000 after purchasing an additional 677 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock valued at $77,000 after purchasing an additional 818 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

Klaviyo Stock Performance

Shares of NYSE:KVYO traded up $1.38 during trading hours on Thursday, hitting $27.62. The stock had a trading volume of 85,254 shares, compared to its average volume of 1,311,815. The stock's fifty day simple moving average is $33.09 and its 200 day simple moving average is $37.82. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of -153.33 and a beta of 1.39. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The business had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. As a group, research analysts anticipate that Klaviyo will post 0.04 EPS for the current year.

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.