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Amanda Whalen, Chief Financial Officer of Klaviyo , Inc. (NYSE:KVYO), recently executed significant stock transactions according to a filing with the Securities and Exchange Commission. On June 13, Whalen sold 15,000 shares of Series A Common Stock at a weighted average price of $33.47, totaling approximately $502,050. This sale was conducted under a Rule 10b5-1 trading plan. Following this transaction, Whalen holds 517,831 shares directly. The transaction comes as Klaviyo, currently valued at $9.3 billion, maintains strong financial health with a current ratio of 5.22 and impressive gross profit margins of 76%. According to InvestingPro analysis, the stock is trading near its Fair Value.
Additionally, Whalen converted 11,204 shares of Series B Common Stock into Series A Common Stock. This conversion did not involve any financial exchange, as each Series B share is convertible into a Series A share at no cost. After these transactions, Whalen’s direct ownership consists of 204,818 shares of Series B Common Stock and a mix of vested and unvested restricted stock units. For deeper insights into Klaviyo’s valuation metrics and 10 additional exclusive ProTips, visit InvestingPro.
In other recent news, Klaviyo Inc. has been the focus of several analyst updates and strategic moves. Cantor Fitzgerald initiated coverage on Klaviyo with an Overweight rating and a price target of $48, citing the company’s strong position in the e-commerce sector and its strategic shift towards larger enterprises. Meanwhile, Benchmark analysts raised their price target to $44, highlighting Klaviyo’s stable Net Revenue Retention rate and the potential growth from its customer service and marketing analytics solutions. Stifel also maintained a Buy rating but adjusted their price target to $45, acknowledging the company’s strong performance and increased guidance amidst macroeconomic challenges.
Additionally, Klaviyo’s CEO, Andrew Bialecki, has initiated a $372 million stock sale to cover tax obligations, with Goldman Sachs and Morgan Stanley (NYSE:MS) managing the transaction. Truist Securities reaffirmed their Buy rating with a $40 target, noting Klaviyo’s strength in revenue and earnings, as well as its resilience in digital engagement. Klaviyo’s platform continues to be a critical tool for marketers, especially in the current economic environment, with new offerings like Custom Objects aimed at attracting larger customers. These developments reflect the company’s ongoing strategic initiatives and its potential for sustained growth in the market.
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