Klaviyo, Inc. (NYSE:KVYO) Sees Significant Decrease in Short Interest

Klaviyo, Inc. (NYSE:KVYO) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 5,800,000 shares, a decline of 24.6% from the November 15th total of 7,690,000 shares. Currently, 11.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is currently 4.8 days.

Analysts Set New Price Targets

Several brokerages have commented on KVYO. Piper Sandler boosted their price target on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Robert W. Baird upped their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Canaccord Genuity Group upped their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC increased their price objective on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and an average price target of $39.69.

Klaviyo Stock Down 0.5 %

Shares of NYSE:KVYO traded down $0.18 during midday trading on Friday, hitting $39.06. The stock had a trading volume of 910,807 shares, compared to its average volume of 1,180,864. The company’s 50-day moving average price is $37.41 and its 200-day moving average price is $31.10. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $41.00. The company has a market capitalization of $10.53 billion, a P/E ratio of -217.00 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same quarter in the prior year, the firm earned ($1.24) EPS. The firm’s revenue was up 33.7% compared to the same quarter last year. Research analysts expect that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Activity

In related news, CTO Allen Chaves sold 130,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Stephen Eric Rowland sold 18,114 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.24, for a total transaction of $565,881.36. Following the completion of the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $6,013,325.12. The trade was a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,764 shares of company stock valued at $9,383,087 in the last quarter. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Institutional investors have recently modified their holdings of the business. Whale Rock Capital Management LLC increased its position in Klaviyo by 608.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after purchasing an additional 3,092,725 shares during the period. Bank of New York Mellon Corp raised its stake in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after buying an additional 2,406,973 shares during the last quarter. Glynn Capital Management LLC lifted its holdings in Klaviyo by 19.7% in the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock valued at $33,944,000 after buying an additional 224,461 shares during the period. Claro Advisors LLC boosted its position in Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock valued at $31,860,000 after acquiring an additional 357,355 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Klaviyo by 53.6% during the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after acquiring an additional 390,849 shares during the period. 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.