Short Interest in Klaviyo, Inc. (NYSE:KVYO) Increases By 9.4%

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 company’s shares are sold short. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 5.2 days.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 23,950 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $40.04, for a total transaction of $958,958.00. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at $15,840,464.64. This represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at approximately $8,177,621.76. This trade represents a 14.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,072 shares of company stock valued at $6,090,767 in the last quarter. 53.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position 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 purchasing an additional 808 shares during the last quarter. nVerses Capital LLC acquired a new stake in Klaviyo in the 3rd quarter valued at approximately $53,000. West Tower Group LLC bought a new stake in Klaviyo during the 3rd quarter valued at $177,000. Victory Capital Management Inc. acquired a new position in Klaviyo during the 3rd quarter worth $208,000. Finally, William Marsh Rice University bought a new position in shares of Klaviyo in the third quarter worth $245,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Stock Performance

Shares of KVYO stock traded up $0.32 during mid-day trading on Monday, reaching $40.15. 860,265 shares of the company were exchanged, compared to its average volume of 1,078,642. The business’s 50 day simple moving average is $39.49 and its 200 day simple moving average is $34.44. The company has a market capitalization of $10.83 billion, a P/E ratio of -223.05 and a beta of 0.57. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $44.77.

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

Analyst Upgrades and Downgrades

KVYO has been the topic of several research analyst reports. Barclays lifted their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Canaccord Genuity Group boosted their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on shares of Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Benchmark reduced their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and a consensus price target 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.