Klaviyo Sees Unusually High Options Volume (NYSE:KVYO)

Key Points

• Klaviyo saw unusually high options activity, with traders purchasing 4,031 call options—49% above the typical volume of 2,713.
• Analyst sentiment remains broadly positive, with 17 Buy ratings, four Holds and one Sell; however, several firms recently lowered their price targets. The consensus rating is “Moderate Buy” with a target price of $26.86.
• Klaviyo shares rose to $19.17, while the company reported quarterly revenue of $370.58 million, up 26.4% year over year, and earnings of $0.19 per share in line with expectations. Insiders sold more than 5.27 million shares worth approximately $93.8 million over the past 90 days.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) was the target of unusually large options trading on Tuesday. Traders bought 4,031 call options on the company. This represents an increase of 49% compared to the typical volume of 2,713 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KVYO shares. Barclays lowered their price target on Klaviyo from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. Needham & Company LLC reissued a "buy" rating on shares of Klaviyo in a research report on Wednesday, September 2nd. Benchmark cut Klaviyo from a "buy" rating to a "hold" rating in a research note on Thursday, August 6th. BTIG Research reduced their price objective on Klaviyo from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $20.00 price objective (down from $27.00) on shares of Klaviyo in a report on Friday. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Klaviyo presently has an average rating of "Moderate Buy" and a consensus target price of $26.86.

Insider Transactions at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 5,000,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $17.71, for a total transaction of $88,550,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan St. Ledger sold 2,328 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $15.93, for a total value of $37,085.04. Following the transaction, the director directly owned 23,433 shares in the company, valued at approximately $373,287.69. This represents a 9.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,275,468 shares of company stock valued at $93,822,653 over the last 90 days. Corporate insiders own 37.42% of the company's stock.

Institutional Trading of Klaviyo

Institutional investors have recently made changes to their positions in the stock. Seelaus Asset Management LLC increased its holdings in Klaviyo by 3.3% in the third quarter. Seelaus Asset Management LLC now owns 19,944 shares of the company's stock valued at $314,000 after purchasing an additional 642 shares during the last quarter. Optiver Holding B.V. acquired a new stake in shares of Klaviyo in the first quarter valued at about $39,000. Arizona State Retirement System raised its position in Klaviyo by 7.1% during the second quarter. Arizona State Retirement System now owns 38,579 shares of the company's stock worth $583,000 after acquiring an additional 2,568 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Klaviyo by 2,641.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company's stock valued at $104,000 after purchasing an additional 3,090 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Klaviyo by 2,085.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company's stock worth $74,000 after purchasing an additional 3,628 shares during the period. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Klaviyo Price Performance

NYSE:KVYO traded up $1.65 during midday trading on Tuesday, reaching $19.17. 4,988,113 shares of the company traded hands, compared to its average volume of 5,602,934. Klaviyo has a twelve month low of $12.53 and a twelve month high of $33.35. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 959.23 and a beta of 0.67. The company has a fifty day moving average price of $17.41 and a 200 day moving average price of $16.96.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $370.58 million during the quarter, compared to analysts' expectations of $362.08 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. Klaviyo's quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, equities research analysts forecast that Klaviyo will post 0.20 earnings per share for the current fiscal year.

Klaviyo Company Profile

Klaviyo, Inc NYSE: KVYO provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company's platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.

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