Klaviyo Inc (NYSE: KVYO) stock jumped 2.53% on Friday to $27.53 against a previous-day closing price of $26.85. With 0.59 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.36 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $28.15 whereas the lowest price it dropped to was $26.95. The 52-week range on KVYO shows that it touched its highest point at $39.47 and its lowest point at $24.35 during that stretch. It currently has a 1-year price target of $38.45.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KVYO was up-trending over the past week, with a rise of 8.81%, but this was down by -8.23% over a month.
Float and Shares Shorts:
At present, 258.30 million KVYO shares are outstanding with a float of 26.47 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.72 million, which was 0.74% higher than short shares on Sep 28, 2023. In addition to Mr. Andrew Bialecki as the firm’s Co-Founder, CEO & Chairperson, Mr. Edward Hallen serves as its Co-Founder, Chief Product Officer & Director.
Other institutions hold 68.55% of KVYO, in contrast to 46.63% held by mutual funds. Shares owned by individuals account for 2.28%. As the largest shareholder in KVYO with 9.71% of the stake, ClearBridge Investments LLC holds 1,864,233 shares worth 1,864,233. A second-largest stockholder of KVYO, AllianceBernstein LP, holds 1,571,685 shares, controlling over 8.19% of the firm’s shares. T. Rowe Price Associates, Inc. is the third largest shareholder in KVYO, holding 1,538,897 shares or 8.02% stake. With a 5.14% stake in KVYO, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 986,296 shares are owned by the mutual fund manager. The American Funds New Economy Fund, which owns about 3.53% of KVYO stock, is the second-largest Mutual Fund holder. It holds 677,100 shares valued at 19.29 million. BlackRock Global Funds – Next Gen holds 3.32% of the stake in KVYO, owning 638,256 shares worth 18.18 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KVYO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With KVYO analysts setting a high price target of $42.00 and a low target of $33.00, the average target price over the next 12 months is $38.45. Based on these targets, KVYO could surge 52.56% to reach the target high and rise by 19.87% to reach the target low. Reaching the average price target will result in a growth of 39.67% from current levels.
Summary of Insider Activity:
Insiders traded KVYO stock several times over the past three months with 1 Buys and 4 Sells. In these transactions, 4,919,165 shares were bought while 7,518,121 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 4,919,165 while 7,518,121 shares were sold.