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

Klaviyo, Inc. (NYSE:KVYO) Director Ed Hallen sold 98,782 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were 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 $344,226.05. The trade was a 85.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value 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 value of $2,023,055.36.

Klaviyo Stock Up 1.1%

KVYO traded up $0.23 on Monday, hitting $20.94. 5,744,419 shares of the company traded hands, compared to its average volume of 5,600,314. The company has a 50 day moving average of $18.10 and a 200-day moving average of $17.97. The stock has a market capitalization of $5.96 billion, a PE ratio of 1,047.47 and a beta of 0.50. Klaviyo, Inc. has a 12-month low of $12.53 and a 12-month high of $33.35.

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 company had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $380.02 million. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, research analysts anticipate that Klaviyo, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently modified their holdings of KVYO. Optiver Holding B.V. bought a new position in Klaviyo in the 1st quarter worth approximately $39,000. Parallel Advisors LLC increased its holdings in shares of Klaviyo by 30.1% in the third quarter. Parallel Advisors LLC now owns 2,276 shares of the company’s stock valued at $36,000 after buying an additional 526 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Klaviyo by 2,085.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock valued at $74,000 after purchasing an additional 3,628 shares during the period. State of Wyoming lifted its position in shares of Klaviyo by 100.8% in the 3rd quarter. State of Wyoming now owns 4,554 shares of the company’s stock valued at $72,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Klaviyo in the second quarter worth $90,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KVYO shares. Citigroup lifted their price objective on shares of Klaviyo from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. KeyCorp cut their price objective on shares of Klaviyo from $35.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $22.50 target price on shares of Klaviyo in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating on shares of Klaviyo in a report on Wednesday, September 2nd. Finally, Benchmark lowered shares of Klaviyo from a “buy” rating to a “hold” rating in a research note on Thursday, August 6th. Sixteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.02.

Klaviyo Company Profile

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.

Founded in 2012 by Andrew Bialecki and Ed Hallen, Klaviyo is headquartered in Boston and serves businesses in markets around the world.