Stephen Eric Rowland, President of Klaviyo , Inc. (NYSE:KVYO), recently executed a series of stock transactions as reported in a recent SEC filing. On December 16, Rowland sold a total of 4,536 shares of Series A Common Stock. The shares were sold in multiple transactions with prices ranging from $39.49 to $41.42 per share, amounting to a total value of approximately $183,690. The stock is currently trading near its 52-week high of $44.38, having delivered an impressive 92% return over the past six months. According to InvestingPro analysis, the company appears slightly overvalued at current levels.
Following these transactions, Rowland's direct ownership stands at 186,785 shares of Klaviyo's Series A Common Stock. The transactions were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell company stock. InvestingPro data reveals that Klaviyo maintains impressive gross profit margins of 77.6% and holds more cash than debt on its balance sheet. For deeper insights into insider trading patterns and 15+ additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Klaviyo Inc. has seen several financial firms revise their stock price targets upwards following robust Q3 results. KeyBanc Capital Markets, maintaining its Overweight rating, raised the target to $45, citing the company's strong momentum, which includes a 35.41% revenue growth and 77.61% gross profit margins. Needham lifted its target to $46 due to strong sales performance, while Loop Capital increased its target to $45, maintaining a Buy rating, following a 34% year-over-year revenue increase.
Baird, with an Outperform rating, also raised its target to $45 after Klaviyo's Q3 performance surpassed expectations with a 34% revenue increase. Cantor Fitzgerald increased the company's price target to $47, maintaining an Overweight rating, following Klaviyo's latest earnings report, which surpassed consensus expectations on both revenue and adjusted operating income.
These recent developments also include an announcement from Klaviyo about a collaboration with TikTok to integrate its customer segmentation tools, aiming to streamline ad targeting. Klaviyo's growth has been attributed to a significant rise in larger customers and expansion into international markets. It's essential to note that these are recent developments and no conclusions or summaries are being made in this article.
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