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

Klaviyo, Inc. (NYSE:KVYO) saw a significant growth in short interest in 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 days-to-cover ratio is currently 3.7 days. Currently, 8.7% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research firms have commented on KVYO. Stephens initiated coverage on Klaviyo in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price for the company. Needham & Company LLC boosted their target price on Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. The Goldman Sachs Group raised their price target on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Truist Financial dropped their target price on shares of Klaviyo from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald increased their price target on Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average target price of $47.05.

Klaviyo Stock Performance

Shares of KVYO traded down $0.79 during mid-day trading on Monday, reaching $24.86. The stock had a trading volume of 769,058 shares, compared to its average volume of 1,295,911. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of -138.11 and a beta of 1.39. Klaviyo has a 12 month low of $21.26 and a 12 month high of $49.55. The business has a fifty day moving average of $34.44 and a 200 day moving average of $38.07.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. On average, research analysts forecast that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Activity at Klaviyo

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the purchase, the insider now directly owns 3,900 shares in the company, valued at $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 2,088,770 shares of company stock worth $67,947,356 over the last ninety days. 53.24% of the stock is owned by corporate insiders.

Institutional Trading of Klaviyo

A number of institutional investors have recently bought and sold shares of the stock. Stanley Laman Group Ltd. purchased a new stake in shares of Klaviyo in the first quarter valued at $4,847,000. Fort Washington Investment Advisors Inc. OH bought a new stake in Klaviyo in the first quarter worth about $663,000. SG Americas Securities LLC grew its stake in shares of Klaviyo by 27.3% during the first quarter. SG Americas Securities LLC now owns 13,918 shares of the company’s stock valued at $421,000 after buying an additional 2,989 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Klaviyo by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 49,997 shares of the company’s stock worth $2,062,000 after buying an additional 864 shares during the period. Finally, Alpha Wealth Funds LLC bought a new stake in shares of Klaviyo during the 4th quarter worth approximately $209,000. 45.43% of the stock is currently owned by institutional investors.

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.