Stephen Eric Rowland Sells 36,710 Shares of Klaviyo, Inc. (NYSE:KVYO) Stock

Klaviyo, Inc. (NYSE:KVYO) President Stephen Eric Rowland sold 36,710 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $35.08, for a total value of $1,287,786.80. Following the completion of the transaction, the president now directly owns 246,254 shares of the company’s stock, valued at $8,638,590.32. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Stephen Eric Rowland also recently made the following trade(s):

• On Wednesday, January 15th, Stephen Eric Rowland sold 4,536 shares of Klaviyo stock. The stock was sold at an average price of $40.04, for a total value of $181,621.44.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $34.04 on Friday. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The stock has a fifty day moving average of $42.92 and a 200-day moving average of $38.62. The company has a market capitalization of $9.30 billion, a PE ratio of -189.08 and a beta of 0.86.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. As a group, research analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

KVYO has been the subject of several recent research reports. KeyCorp raised their price target on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Stifel Nicolaus lifted their price objective on Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley lifted their price objective on Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research report on Thursday, February 20th. Finally, Robert W. Baird lifted their price objective on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Hedge Funds Weigh In On Klaviyo

Several hedge funds have recently bought and sold shares of KVYO. Advisors Asset Management Inc. increased its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after buying an additional 808 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after buying an additional 818 shares during the last quarter. West Tower Group LLC acquired a new position in Klaviyo during the third quarter worth $177,000. Finally, SBI Securities Co. Ltd. acquired a new position in Klaviyo during the fourth quarter worth $196,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.