Klaviyo, Inc. (NYSE:KVYO) Short Interest Up 9.4% in December

Klaviyo, Inc. (NYSE:KVYO) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 6,630,000 shares, an increase of 9.4% from the December 15th total of 6,060,000 shares. Currently, 12.7% of the shares of the stock are sold short. Based on an average trading volume of 1,270,000 shares, the short-interest ratio is presently 5.2 days.

Insider Transactions at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the sale, the insider now directly owns 236,621 shares in the company, valued at approximately $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $518,400.00. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at $13,672,488.96. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 159,072 shares of company stock valued at $6,090,767. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of institutional investors and hedge funds have recently made changes to their positions in KVYO. Advisors Asset Management Inc. raised its holdings in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the period. nVerses Capital LLC bought a new position in shares of Klaviyo in the third quarter worth about $53,000. West Tower Group LLC bought a new position in shares of Klaviyo in the third quarter worth about $177,000. Victory Capital Management Inc. acquired a new position in shares of Klaviyo during the 3rd quarter worth about $208,000. Finally, William Marsh Rice University bought a new stake in Klaviyo during the 3rd quarter valued at approximately $245,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Price Performance

KVYO traded up $0.32 during trading on Monday, reaching $40.15. 860,265 shares of the stock traded hands, compared to its average volume of 1,078,642. The stock’s 50-day simple moving average is $39.49 and its two-hundred day simple moving average is $34.44. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $44.77. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of -223.05 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.24) earnings per share. Research analysts anticipate that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KVYO shares. William Blair reissued an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Needham & Company LLC upped their target price on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus started coverage on Klaviyo in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target on the stock. Barclays upped their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Robert W. Baird lifted their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

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.