BOSTON—Edmond Landon, Chief Legal Officer Klaviyo Inch. (NYSE: ), recently sold a significant portion of its stake in the company. According to a filing with the Securities and Exchange Commission, Landon sold 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, is trading near a 52-week high of $44.77, up more than 65% over the past six months. InvestingPro the analysis shows that the shares are trading above their fair value.
The transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Landon on August 16, 2024. The shares were sold at prices ranging from $41.62 to $42.10 per share, generating aggregate proceeds of approximately $1.67 million.
Following these sales, Landon retains ownership of 298,607 shares of Klaviya stock, including 79,642 shares of Series A common stock and 218,965 non-vested restricted shares. The unvested units were granted under Klaviy’s 2023 Option and Incentive Plan and represent a conditional right to receive shares upon vesting and settlement.
Boston-based Klaviyo specializes in providing prepackaged software services and is traded on the New York Stock Exchange under the ticker symbol KVYO. For a deeper look into Klaviyo’s financial health and growth prospects, including 10 additional exclusive pro tips, visit InvestingPro.
In other recent news, Klaviyo Inc. has seen a number of positive analysts’ adjustments after robust results in the third quarter. KeyBanc Capital Markets maintained its Overweight rating on Klaviyo and raised its target price to $45.00, reflecting the company’s strong momentum with significant revenue growth of 35.41%. Needham also raised Klaviy’s price target to $46.00 due to the company’s solid sales performance. Loop Capital, Baird and Cantor Fitzgerald also raised their price targets on Klaviyo to $45, $45 and $47, respectively, maintaining positive ratings on the company’s stock.
The company reported a 34% year-over-year increase in revenue, beating expectations. This growth is attributed to a significant increase in the number of larger customers and expansion into international markets. Klaviyo also overhauled its compensation strategy, shifting some stock-based compensation to cash, which should reduce annual stock dilution by roughly 8%-10%.
Klaviyo also announced a collaboration with TikTok to integrate its customer segmentation tools, with the goal of simplifying ad targeting. These developments, along with the company’s strong financial performance, have kept Klaviyo in the spotlight. Please note that these are recent developments and no conclusions or summaries are provided in this article.
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