Klaviyo, Inc. (NYSE:KVYO) Short Interest Up 27.8% in March

Klaviyo, Inc. (NYSE:KVYO) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 5,570,000 shares, a growth of 27.8% from the March 15th total of 4,360,000 shares. Based on an average trading volume of 1,500,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 8.7% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

KVYO has been the topic of several analyst reports. Stifel Nicolaus upped their price target on Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Piper Sandler raised their price target on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Scotiabank upped their price target on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Benchmark boosted their target price on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, William Blair reiterated an “outperform” rating on shares of Klaviyo in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.05.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 36,710 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $35.08, for a total value of $1,287,786.80. Following the transaction, the president now directly owns 246,254 shares in the company, valued at $8,638,590.32. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $26.70, for a total transaction of $400,500.00. Following the completion of the sale, the chief financial officer now directly owns 553,943 shares in the company, valued at $14,790,278.10. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,088,770 shares of company stock valued at $67,947,356 in the last three months. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC increased its stake in shares of Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after buying an additional 1,102 shares during the period. Tower Research Capital LLC TRC increased its position in Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after purchasing an additional 818 shares during the period. SBI Securities Co. Ltd. bought a new position in Klaviyo in the 4th quarter worth $196,000. US Bancorp DE purchased a new stake in shares of Klaviyo in the 4th quarter worth about $199,000. Finally, Keybank National Association OH bought a new stake in shares of Klaviyo during the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

KVYO traded down $0.79 on Monday, hitting $24.86. 769,058 shares of the company were exchanged, compared to its average volume of 1,295,911. Klaviyo has a 12 month low of $21.26 and a 12 month high of $49.55. The firm has a fifty day simple moving average of $34.44 and a two-hundred day simple moving average of $38.07. The stock has a market capitalization of $6.79 billion, a PE ratio of -138.11 and a beta of 1.39.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. On average, equities analysts expect that Klaviyo will post 0.04 earnings per share for the current year.

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.