Klaviyo (NYSE:KVYO) Sets New 12-Month High – What’s Next?

Klaviyo, Inc. (NYSE:KVYO)’s stock price reached a new 52-week high on Monday . The stock traded as high as $49.29 and last traded at $49.01, with a volume of 284697 shares changing hands. The stock had previously closed at $46.96.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stifel Nicolaus assumed coverage on Klaviyo in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target for the company. Piper Sandler boosted their price target on Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Cantor Fitzgerald boosted their price target on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Benchmark lowered their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley boosted their price target on Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and an average target price of $44.29.

Klaviyo Price Performance

The firm has a 50 day simple moving average of $42.60 and a 200-day simple moving average of $36.91. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of -263.87 and a beta of 0.60.

Insiders Place Their Bets

In other news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $156,764.16. Following the sale, the president now owns 186,785 shares in the company, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $518,400.00. Following the sale, the chief financial officer now owns 395,616 shares in the company, valued at $13,672,488.96. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,072 shares of company stock worth $6,778,517 over the last three months. 53.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning acquired a new position in Klaviyo in the third quarter valued at about $254,000. Cabot Wealth Management Inc. lifted its stake in Klaviyo by 101.1% in the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock valued at $3,199,000 after buying an additional 45,451 shares during the period. Renaissance Capital LLC lifted its stake in Klaviyo by 134.6% in the third quarter. Renaissance Capital LLC now owns 78,401 shares of the company’s stock valued at $2,774,000 after buying an additional 44,977 shares during the period. William Marsh Rice University acquired a new position in Klaviyo in the third quarter valued at about $245,000. Finally, nVerses Capital LLC acquired a new position in Klaviyo in the third quarter valued at about $53,000. 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.