Amanda Whalen, Chief Financial Officer of Klaviyo , Inc. (NYSE:KVYO), recently sold shares of the company's Series A Common Stock, totaling approximately $1 million. The transactions, executed under a pre-established trading plan, involved the sale of 23,950 shares on December 6, 2024, at a weighted average price of $40.04 per share, and an additional 1,050 shares on December 9, 2024, at a weighted average price of $40.07 per share. The sales come as Klaviyo, now valued at $10.7 billion, trades near its 52-week high of $41, having delivered impressive returns of 77% over the past six months. Following these transactions, Whalen retains direct ownership of 395,616 shares of Series A Common Stock. The company maintains strong fundamentals with a 77.6% gross profit margin. InvestingPro subscribers have access to 13 additional key insights and a comprehensive Pro Research Report for deeper analysis of KVYO's financial health and valuation metrics.
In other recent news, Klaviyo Inc. has been the recipient of multiple price target upgrades following robust Q3 results. Needham, Loop Capital, Baird, and Cantor Fitzgerald have raised their price targets for Klaviyo to $46, $45, $45, and $47 respectively, maintaining positive ratings on the company's stock. These adjustments came after Klaviyo reported a 34% year-over-year revenue increase and an adjusted operating income growth of 42.8%. The company's strong performance has been attributed to an increase in larger customers and expansion into international markets.
Klaviyo's strategic initiatives include a collaboration with TikTok to integrate its customer segmentation tools, aiming to streamline ad targeting. The company also revised its compensation strategy, shifting some stock-based compensation to cash compensation, a move expected to reduce annual share dilution by approximately 8%-10%.
Stifel initiated coverage on Klaviyo with a Buy rating and a price target of $45, expressing confidence in the company's potential within the digital marketing space. The firm envisions Klaviyo continuing its growth trajectory, with the potential to grow at a 25% annual rate for at least the next two years. These recent developments reflect the market's confidence in Klaviyo's continued growth trajectory.
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