Klaviyo (NYSE:KVYO) Shares Gap Up – Here’s Why

Klaviyo, Inc. (NYSE:KVYO) shares gapped up before the market opened on Tuesday. The stock had previously closed at $17.52, but opened at $18.92. Klaviyo shares last traded at $19.1970, with a volume of 3,171,295 shares traded.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $21.00 price objective on shares of Klaviyo in a research note on Thursday, August 6th. Robert W. Baird set a $25.00 price objective on shares of Klaviyo in a report on Thursday, August 6th. TD Cowen lowered their target price on shares of Klaviyo from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Canaccord Genuity Group cut their target price on shares of Klaviyo from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Stephens increased their target price on shares of Klaviyo from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Seventeen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and a consensus target price of $26.86.

Klaviyo Price Performance

The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 1,010.26 and a beta of 0.67. The business has a 50 day simple moving average of $17.50 and a 200-day simple moving average of $16.97.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $370.58 million during the quarter, compared to the consensus estimate of $362.08 million. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. As a group, equities analysts predict that Klaviyo, Inc. will post 0.20 earnings per share for the current year.

Insiders Place Their Bets

In other Klaviyo news, Director Susan St. Ledger sold 2,328 shares of Klaviyo stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $15.93, for a total value of $37,085.04. Following the transaction, the director owned 23,433 shares of the company’s stock, valued at approximately $373,287.69. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ed Hallen sold 98,782 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $20.48, for a total transaction of $2,023,055.36. Following the completion of the transaction, the director owned 94,457 shares of the company’s stock, valued at $1,934,479.36. This trade represents a 51.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,275,468 shares of company stock worth $93,822,653 in the last three months. 37.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Several large investors have recently made changes to their positions in KVYO. Seelaus Asset Management LLC raised its holdings in shares of Klaviyo by 3.3% during the third quarter. Seelaus Asset Management LLC now owns 19,944 shares of the company’s stock worth $314,000 after acquiring an additional 642 shares during the period. Optiver Holding B.V. acquired a new position in Klaviyo in the 1st quarter worth $39,000. Arizona State Retirement System boosted its stake in Klaviyo by 7.1% in the 2nd quarter. Arizona State Retirement System now owns 38,579 shares of the company’s stock worth $583,000 after purchasing an additional 2,568 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Klaviyo by 2,641.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company’s stock worth $104,000 after purchasing an additional 3,090 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Klaviyo by 2,085.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock worth $74,000 after purchasing an additional 3,628 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

About Klaviyo

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.