Investors Purchase High Volume of Klaviyo Put Options (NYSE:KVYO)

Klaviyo, Inc. (NYSE:KVYO) was the recipient of unusually large options trading on Wednesday. Investors acquired 6,079 put options on the company. This represents an increase of approximately 558% compared to the average volume of 924 put options.

Analysts Set New Price Targets

KVYO has been the topic of a number of analyst reports. Needham & Company LLC initiated coverage on shares of Klaviyo in a report on Monday, October 16th. They set a “buy” rating and a $40.00 target price on the stock. Morgan Stanley initiated coverage on shares of Klaviyo in a report on Monday, October 16th. They set an “equal weight” rating and a $38.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $38.00 target price on shares of Klaviyo in a report on Wednesday. Robert W. Baird initiated coverage on shares of Klaviyo in a report on Monday, October 16th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Mizuho initiated coverage on shares of Klaviyo in a report on Monday, October 16th. They set a “buy” rating and a $40.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.75.

Insider Transactions at Klaviyo

In other news, Director Jennifer Ceran sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $28.32, for a total value of $339,840.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Summit Partners L. P sold 4,919,165 shares of Klaviyo stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $28.32, for a total value of $139,310,752.80. Following the sale, the insider now owns 663,769 shares of the company’s stock, valued at approximately $18,797,938.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer Ceran sold 12,000 shares of Klaviyo stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $28.32, for a total transaction of $339,840.00. The disclosure for this sale can be found here. Insiders have sold 6,701,483 shares of company stock worth $189,785,999 in the last 90 days.

Institutional Trading of Klaviyo

Institutional investors have recently modified their holdings of the company. Summit Partners L P bought a new position in Klaviyo in the third quarter worth about $1,708,162,000. Brown Advisory Inc. bought a new position in Klaviyo in the third quarter worth about $2,381,000. Allspring Global Investments Holdings LLC bought a new position in Klaviyo in the third quarter worth about $1,087,000. Skylands Capital LLC bought a new position in shares of Klaviyo during the third quarter valued at approximately $172,000. Finally, New York State Common Retirement Fund bought a new position in shares of Klaviyo during the third quarter valued at approximately $65,000.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $27.54 on Thursday. Klaviyo has a 52-week low of $26.15 and a 52-week high of $39.47.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($1.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.82) by $0.58. The business had revenue of $175.80 million for the quarter, compared to analysts’ expectations of $167.16 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The business’s quarterly revenue was up 47.5% on a year-over-year basis. On average, analysts anticipate that Klaviyo will post -1.93 EPS for the current year.

About Klaviyo

Klaviyo, Inc, a technology company that provides a software-as-a-service platform to enable its customers to send the right messages at the right time across email, short message service (SMS), and push notifications. The company offers Klaviyo, a marketing automation platform that sends personalized and targeted messages.