BOSTON—Edmond Landon, Chief Legal Officer of Klaviyo , Inc. (NYSE:KVYO), has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Landon disposed of a total of 40,000 shares of Series A Common Stock on January 7, 2025. The sale comes as Klaviyo, currently valued at $11.08 billion, trades near its 52-week high of $44.77, having gained over 65% in the past six months. InvestingPro analysis indicates the stock is trading above its Fair Value.
The transactions were executed under a Rule 10b5-1 trading plan that Landon adopted on August 16, 2024. The shares were sold at prices ranging from $41.62 to $42.10 per share, generating total proceeds of approximately $1.67 million.
Following these sales, Landon retains ownership of 298,607 shares of Klaviyo, including 79,642 shares of Series A Common Stock and 218,965 unvested restricted stock units. The unvested units were awarded under Klaviyo’s 2023 Stock Option and Incentive Plan and represent the contingent right to receive shares upon vesting and settlement.
Klaviyo, headquartered in Boston, specializes in providing prepackaged software services, and its stock is traded on the New York Stock Exchange under the ticker symbol KVYO. For deeper insights into Klaviyo’s financial health and growth prospects, including 10 additional exclusive ProTips, visit InvestingPro.
In other recent news, Klaviyo Inc. has experienced a series of positive analyst adjustments following robust Q3 results. KeyBanc Capital Markets maintained its Overweight rating on Klaviyo and increased the price target to $45.00, reflecting the company’s strong momentum with a notable 35.41% revenue growth. Needham also raised Klaviyo’s target to $46.00 due to the company’s solid sales performance. Loop Capital, Baird, and Cantor Fitzgerald have also increased their price targets for Klaviyo to $45, $45, and $47 respectively, maintaining positive ratings on the company’s stock.
The company reported a revenue increase of 34% year-over-year, exceeding expectations. This growth has been attributed to a significant rise in larger customers and expansion into international markets. Klaviyo has also revised its compensation strategy, transitioning some stock-based compensation to cash, a move expected to reduce annual share dilution by approximately 8%-10%.
Klaviyo also announced a collaboration with TikTok to integrate its customer segmentation tools, aiming to streamline ad targeting. These developments, along with the company’s robust financial performance, have kept Klaviyo in the spotlight. Please note that these are recent developments and no conclusions or summaries are being made in this article.
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