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Klaviyo , Inc. (NYSE:KVYO), a $9.4 billion market cap company trading near InvestingPro’s Fair Value estimate, saw President Stephen Eric Rowland sell 7,105 shares of Series A Common Stock on August 18 at prices ranging from $31.20 to $31.77, generating proceeds of $223,523. The sale, executed under a pre-arranged Rule 10b5-1 trading plan, comes as the stock has declined 29% over the past six months.
According to a Form 4 filing with the Securities and Exchange Commission, Rowland also engaged in several other transactions. On August 15 and 18, Series B Common Stock converted into Series A Common Stock, with 22,855 and 28,457 shares converted respectively. Additionally, on August 15, 34,326 shares of Series A Common Stock were withheld by the Issuer to satisfy tax obligations related to the vesting of restricted stock units, valued at $1,078,866. The company maintains strong financial health with a current ratio of 4.95 and holds more cash than debt on its balance sheet.
Following these transactions, Rowland directly owns 136,175 shares of Series A Common Stock and 309,551 unvested restricted stock units, each representing the right to receive one share of Series A Common Stock upon vesting. He also holds 410,496 unvested restricted stock units, each representing the right to receive one share of Series B Common Stock upon vesting. While currently unprofitable, InvestingPro analysis indicates the company is expected to achieve profitability this year, with 9 analysts recently revising earnings estimates upward.
In other recent news, Klaviyo Inc reported a 32% revenue growth in its second quarter, surpassing Wall Street’s expectations of 26%. Following these strong results, the company has raised its fiscal year 2025 growth guidance to 27-28%, an increase of 200 basis points from earlier forecasts. Additionally, Piper Sandler has increased its price target for Klaviyo to $55, citing the company’s substantial earnings beat since its 2023 IPO and notable international growth of 42% year-over-year. Meanwhile, TD Cowen and Benchmark have also raised their price targets to $46, maintaining a Buy rating, with Benchmark highlighting Klaviyo’s infrastructure leverage.
In another development, Summit Partners, a significant shareholder in Klaviyo, announced plans to sell 6.5 million shares of Series A common stock in an underwritten public offering. The sale includes an option for the underwriter, Barclays (LON:BARC), to purchase an additional 975,000 shares within 30 days. Klaviyo will not receive any proceeds from this sale. These recent developments reflect ongoing investor interest and activity surrounding Klaviyo.
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