Amanda Whalen, the Chief Financial Officer of Klaviyo , Inc. (NYSE:KVYO), executed a significant transaction involving the company's Series A Common Stock. On November 18, Whalen sold 15,000 shares at an average price of $34.56, resulting in a total transaction value of $518,400. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which Whalen adopted on August 16, 2024.
In addition to the sale, Whalen had other transactions on November 15. She acquired 18,856 shares of Series A Common Stock due to the conversion of Series B Common Stock, which was related to tax withholding obligations. Furthermore, 31,053 shares were withheld by the issuer to satisfy tax withholding obligations linked to the vesting and settlement of restricted stock units (RSUs). After these transactions, Whalen holds 395,616 shares directly.
In other recent news, Klaviyo Inc. has been making notable strides in its financial performance and strategic initiatives. The company reported a significant 34% year-over-year revenue increase, surpassing previous forecasts. This growth has been attributed to a rise in larger customers and expansion into international markets. The company's robust financial performance led several analyst firms, including Needham, Loop Capital, Baird, and Cantor Fitzgerald, to raise their price targets for Klaviyo. These firms maintained positive ratings on the company's stock, reflecting their confidence in Klaviyo's growth trajectory.
In addition, Klaviyo has revised its compensation strategy, shifting some stock-based compensation to cash compensation, which is projected to reduce annual share dilution by approximately 8%-10%. The company also announced a collaboration with TikTok to integrate its customer segmentation tools, aiming to streamline ad targeting. Despite a slight dip in net revenue retention, Klaviyo's strong financial performance and strategic initiatives have kept the company in the spotlight. These are all recent developments that reflect the market's confidence in Klaviyo's continued growth trajectory.
InvestingPro Insights
Klaviyo, Inc. (NYSE:KVYO) has been experiencing significant growth, as evidenced by its impressive financial metrics and market performance. According to InvestingPro Data, the company's revenue growth stands at 35.41% for the last twelve months as of Q3 2024, with quarterly revenue growth at 33.72%. This strong top-line performance aligns with one of the InvestingPro Tips, which indicates that analysts anticipate sales growth in the current year.
The company's gross profit margin is particularly noteworthy at 77.61%, reflecting Klaviyo's ability to maintain pricing power and efficiency in its operations. This metric supports another InvestingPro Tip highlighting the company's impressive gross profit margins.
Despite the recent insider sale by CFO Amanda Whalen, Klaviyo's stock has shown robust performance, with a 37.15% price total return over the past six months. This significant uptick is consistent with the InvestingPro Tip noting a large price increase over the last six months.
It's worth noting that while Klaviyo is not currently profitable, with a negative operating income of $85.75 million in the last twelve months, analysts predict the company will turn profitable this year. This optimistic outlook may explain the stock's strong performance and high valuation multiples.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Klaviyo, providing a deeper understanding of the company's financial health and market position.
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