Klaviyo, Inc. (NYSE:KVYO) Short Interest Down 14.4% in October

Klaviyo, Inc. (NYSE:KVYO) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 8,320,000 shares, a decrease of 14.4% from the September 30th total of 9,720,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the days-to-cover ratio is currently 7.4 days. Currently, 18.3% of the company’s stock are short sold.

Klaviyo Stock Up 0.6 %

NYSE KVYO opened at $39.26 on Tuesday. The firm has a market cap of $10.39 billion and a P/E ratio of -27.84. The company’s 50 day moving average is $34.10 and its 200-day moving average is $27.81. Klaviyo has a 12-month low of $21.26 and a 12-month high of $39.77.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share.

Analysts Set New Price Targets

KVYO has been the subject of several recent research reports. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a report on Thursday, August 8th. Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a report on Friday, October 18th. Robert W. Baird boosted their price target on shares of Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Cantor Fitzgerald increased their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Piper Sandler boosted their target price on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.38.

Insider Buying and Selling

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the sale, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Klaviyo news, major shareholder Jeff Fagnan purchased 9,485 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $26.43 per share, with a total value of $250,688.55. Following the transaction, the insider now owns 9,485 shares in the company, valued at $250,688.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the transaction, the president now owns 192,488 shares of the company’s stock, valued at $7,158,628.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 871,477 shares of company stock valued at $27,610,861. 53.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KVYO. nVerses Capital LLC purchased a new stake in shares of Klaviyo in the third quarter worth about $53,000. EntryPoint Capital LLC purchased a new stake in Klaviyo in the 1st quarter worth approximately $71,000. SG Americas Securities LLC bought a new position in Klaviyo in the 2nd quarter valued at $236,000. William Marsh Rice University purchased a new position in shares of Klaviyo during the 3rd quarter valued at $245,000. Finally, Creative Planning bought a new position in shares of Klaviyo in the third quarter worth $254,000. Institutional investors 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.