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

Klaviyo, Inc. (NYSE:KVYO) saw a large increase in short interest during 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. Approximately 12.7% of the company’s stock are sold short. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is currently 5.2 days.

Klaviyo Stock Performance

Shares of NYSE KVYO traded up $0.32 during midday trading on Monday, reaching $40.15. 860,265 shares of the company traded hands, compared to its average volume of 1,078,642. Klaviyo has a 12 month low of $21.26 and a 12 month high of $44.77. The firm has a market cap of $10.83 billion, a PE ratio of -223.05 and a beta of 0.57. The stock’s 50-day simple moving average is $39.49 and its 200-day simple moving average is $34.44.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KVYO shares. Wells Fargo & Company boosted their price objective on Klaviyo from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. Barclays increased their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Benchmark dropped their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Piper Sandler upped their target price on shares of Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, William Blair restated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.29.

Insider Transactions at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the sale, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the transaction, the insider now owns 236,621 shares in the company, valued at $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 worth $6,090,767 in the last 90 days. 53.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Whale Rock Capital Management LLC increased its position in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after acquiring an additional 3,092,725 shares during the period. Millennium Management LLC increased its stake in shares of Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after buying an additional 390,849 shares during the period. Geode Capital Management LLC raised its position in shares of Klaviyo by 45.1% during the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock worth $27,827,000 after acquiring an additional 244,447 shares during the last quarter. Mayflower Financial Advisors LLC lifted its stake in shares of Klaviyo by 181.4% in the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after acquiring an additional 441,500 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Klaviyo by 121.5% in the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock valued at $23,828,000 after acquiring an additional 369,400 shares during the last quarter. Institutional investors own 45.43% of the company’s stock.

Klaviyo Company Profile

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.