Allen Chaves Sells 130,000 Shares of Klaviyo, Inc. (NYSE:KVYO) Stock

by · The Markets Daily

Klaviyo, Inc. (NYSE:KVYO – Get Free Report) CTO Allen Chaves sold 130,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Allen Chaves also recently made the following trade(s):

  • On Monday, August 12th, Allen Chaves sold 130,000 shares of Klaviyo stock. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00.

Klaviyo Stock Performance

KVYO stock opened at $33.48 on Friday. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $39.47. The company has a fifty day moving average of $29.01 and a 200-day moving average of $25.68.

Klaviyo (NYSE:KVYO – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business’s revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the business earned $0.09 EPS. As a group, equities analysts anticipate that Klaviyo, Inc. will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Klaviyo

A number of large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in shares of Klaviyo in the 2nd quarter valued at about $2,685,000. Millennium Management LLC increased its holdings in shares of Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after purchasing an additional 390,849 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Klaviyo by 13.7% during the 2nd quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after acquiring an additional 2,851 shares in the last quarter. Diker Management LLC increased its holdings in Klaviyo by 33.3% during the 2nd quarter. Diker Management LLC now owns 200,000 shares of the company’s stock valued at $4,978,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Klaviyo during the 2nd quarter valued at about $3,157,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KVYO. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a report on Thursday, August 8th. Barclays upped their target price on shares of Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Cantor Fitzgerald upped their target price on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a report on Wednesday, September 4th. Finally, Piper Sandler increased their price target on shares of Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.65.

Read Our Latest Stock Analysis on KVYO

About Klaviyo

(Get Free Report)

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.

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