Klaviyo (NYSE:KVYO) Hits New 12-Month High at $35.77

Klaviyo, Inc. (NYSE:KVYO) shares hit a new 52-week high during trading on Monday . The company traded as high as $35.77 and last traded at $35.74, with a volume of 18400 shares. The stock had previously closed at $35.20.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Benchmark assumed coverage on Klaviyo in a research note on Monday. They issued a “buy” rating and a $42.00 target price on the stock. Piper Sandler increased their target price on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. KeyCorp raised shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a report on Thursday, August 8th. Barclays upped their price target on shares of Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Cantor Fitzgerald increased their target price on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and an average price target of $36.00.

Klaviyo Stock Performance

The stock’s 50 day moving average is $30.17 and its two-hundred day moving average is $26.07.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. Klaviyo’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. Analysts forecast that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Insider Activity at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $31.64, for a total transaction of $41,132.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Summit Partners L. P sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $31.64, for a total value of $41,132.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Landon Edmond sold 21,764 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $32.28, for a total transaction of $702,541.92. Following the completion of the transaction, the insider now owns 245,743 shares in the company, valued at approximately $7,932,584.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 843,363 shares of company stock valued at $26,583,602. Insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $68,749,000 after acquiring an additional 2,406,973 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Klaviyo by 243.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after purchasing an additional 1,042,902 shares in the last quarter. Claro Advisors LLC bought a new stake in shares of Klaviyo during the first quarter valued at about $23,510,000. Glynn Capital Management LLC raised its stake in shares of Klaviyo by 291.3% during the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock valued at $29,030,000 after purchasing an additional 848,152 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Klaviyo during the fourth quarter valued at about $21,258,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

About Klaviyo

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.