Short Interest in Klaviyo, Inc. (NYSE:KVYO) Increases By 30.0%

Klaviyo, Inc. (NYSE:KVYO) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 8,460,000 shares, an increase of 30.0% from the May 31st total of 6,510,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the short-interest ratio is presently 7.4 days. Approximately 12.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KVYO shares. KeyCorp started coverage on shares of Klaviyo in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Mizuho dropped their price target on shares of Klaviyo from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Scotiabank started coverage on shares of Klaviyo in a research note on Tuesday, April 2nd. They issued a “sector perform” rating and a $30.00 price target for the company. FBN Securities started coverage on shares of Klaviyo in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Robert W. Baird dropped their price target on shares of Klaviyo from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Klaviyo Stock Performance

Shares of KVYO traded down $0.52 during midday trading on Monday, hitting $24.37. 679,720 shares of the stock traded hands, compared to its average volume of 1,195,990. Klaviyo has a 1-year low of $21.26 and a 1-year high of $39.47. The business’s 50 day moving average price is $23.21 and its two-hundred day moving average price is $25.36.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $210.00 million for the quarter, compared to analyst estimates of $202.08 million. Klaviyo’s revenue for the quarter was up 34.5% compared to the same quarter last year. As a group, equities analysts anticipate that Klaviyo will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other news, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $24.15, for a total transaction of $85,611.75. Following the transaction, the insider now directly owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Jennifer Ceran sold 13,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.65, for a total transaction of $320,450.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total transaction of $85,611.75. Following the transaction, the insider now directly owns 167,127 shares in the company, valued at $4,036,117.05. The disclosure for this sale can be found here. 53.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Institutional investors have recently bought and sold shares of the stock. Salem Investment Counselors Inc. acquired a new stake in Klaviyo in the 4th quarter valued at about $25,000. EntryPoint Capital LLC acquired a new stake in Klaviyo in the 1st quarter valued at about $71,000. New York State Common Retirement Fund lifted its holdings in Klaviyo by 191.0% in the 4th quarter. New York State Common Retirement Fund now owns 5,485 shares of the company’s stock valued at $152,000 after acquiring an additional 3,600 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in Klaviyo in the 4th quarter valued at about $231,000. Finally, SVB Wealth LLC acquired a new stake in Klaviyo in the 1st quarter valued at about $299,000. Institutional investors and hedge funds 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.