Klaviyo (NYSE:KVYO) Major Shareholder Sells $127,480,000.00 in Stock

Key Points

• Summit Partners P, a major shareholder of Klaviyo, sold 4 million shares for approximately $127.48 million, indicating significant insider trading activity.
• Klaviyo's stock performed at $31.27 after a decline, with a trading volume of nearly 2 million shares compared to its average, highlighting market volatility.
• The company reported a 31.9% increase in revenue year-over-year, amounting to $293.12 million, while surpassing EPS estimates by analysts.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) major shareholder Summit Partners P sold 4,000,000 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $31.87, for a total value of $127,480,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Klaviyo Stock Performance

Shares of Klaviyo stock traded down $0.88 during trading on Wednesday, reaching $31.27. 1,965,599 shares of the company's stock were exchanged, compared to its average volume of 1,898,130. Klaviyo, Inc. has a 1-year low of $23.77 and a 1-year high of $49.55. The company has a market cap of $9.38 billion, a P/E ratio of -125.08 and a beta of 1.36. The firm's 50-day moving average price is $32.18 and its 200 day moving average price is $32.43.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%.The business had revenue of $293.12 million during the quarter, compared to analysts' expectations of $275.97 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business's revenue for the quarter was up 31.9% compared to the same quarter last year. Klaviyo has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

Institutional Trading of Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of the stock. TFC Financial Management Inc. purchased a new stake in shares of Klaviyo during the first quarter valued at approximately $27,000. CWM LLC increased its position in shares of Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after acquiring an additional 646 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Klaviyo during the second quarter valued at approximately $31,000. First Horizon Advisors Inc. purchased a new stake in shares of Klaviyo during the second quarter valued at approximately $37,000. Finally, State of Wyoming purchased a new stake in shares of Klaviyo during the first quarter valued at approximately $42,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KVYO shares. Piper Sandler upped their price target on Klaviyo from $40.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company upgraded Klaviyo from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $32.00 to $40.00 in a research report on Friday, June 13th. Stifel Nicolaus cut their target price on Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Wall Street Zen lowered Klaviyo from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Macquarie restated a "neutral" rating and set a $37.00 target price on shares of Klaviyo in a research report on Wednesday, August 6th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.65.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.