Klaviyo (NYSE:KVYO) Stock: Insider Ed Hallen Sells 98,782 Shares

Klaviyo, Inc. (NYSE:KVYO) Director Ed Hallen sold 98,782 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $21.35, for a total transaction of $2,108,995.70. Following the completion of the sale, the director directly owned 16,123 shares of the company’s stock, valued at approximately $344,226.05. The trade was a 85.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ed Hallen also recently made the following trade(s):

• On Wednesday, October 7th, Ed Hallen sold 97,482 shares of Klaviyo stock. The stock was sold at an average price of $17.40, for a total transaction of $1,696,186.80.
• On Thursday, September 24th, Ed Hallen sold 1,300 shares of Klaviyo stock. The stock was sold at an average price of $17.02, for a total value of $22,126.00.
• On Monday, August 31st, Ed Hallen sold 98,782 shares of Klaviyo stock. The shares were sold at an average price of $20.48, for a total transaction of $2,023,055.36.

Klaviyo Stock Performance

Shares of Klaviyo stock opened at $20.44 on Wednesday. The company has a 50-day simple moving average of $18.12 and a two-hundred day simple moving average of $17.92. Klaviyo, Inc. has a one year low of $12.53 and a one year high of $33.35. The company has a market capitalization of $5.82 billion, a PE ratio of 1,022.51 and a beta of 0.50.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Klaviyo had a return on equity of 6.73% and a net margin of 0.54%. The firm had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $380.02 million. During the same quarter last year, the firm earned $0.18 EPS. The business’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities analysts predict that Klaviyo, Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays raised their price objective on Klaviyo from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. BTIG Research decreased their price objective on shares of Klaviyo from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating on shares of Klaviyo in a research note on Wednesday, September 2nd. Jefferies Financial Group restated a “buy” rating and set a $21.00 target price on shares of Klaviyo in a research report on Thursday, August 6th. Finally, TD Cowen cut their price target on Klaviyo from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average target price of $26.88.

Institutional Investors Weigh In On Klaviyo

Several large investors have recently bought and sold shares of KVYO. Ieq Capital LLC lifted its holdings in Klaviyo by 15.2% in the 3rd quarter. Ieq Capital LLC now owns 54,639 shares of the company’s stock valued at $859,000 after purchasing an additional 7,207 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Klaviyo by 18.0% during the 3rd quarter. Voya Investment Management LLC now owns 92,508 shares of the company’s stock valued at $1,455,000 after acquiring an additional 14,082 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Klaviyo by 29.2% during the 3rd quarter. HighTower Advisors LLC now owns 32,566 shares of the company’s stock valued at $512,000 after acquiring an additional 7,369 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Klaviyo by 116.4% in the third quarter. Russell Investments Group Ltd. now owns 23,978 shares of the company’s stock valued at $377,000 after purchasing an additional 12,897 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Klaviyo in the third quarter valued at about $1,588,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

About Klaviyo

Klaviyo, Inc. provides a customer data and marketing automation platform that helps businesses manage customer relationships and communications. Its software brings together customer information to support personalized marketing and engagement. The platform offers tools for email and text-message marketing, mobile push notifications, automation, audience segmentation, analytics and customer service. Klaviyo also connects with other business applications, including e-commerce platforms, to help companies coordinate customer data and outreach.