Klaviyo falls after launching secondary offering

** Shares of marketing automation firm Klaviyo Inc KVYO.N down 3.9% in extended trading to $30.26 after secondary offering launched

** Boston, Massachusetts-based KVYO says Summit Partners to unload 6.5 mln Series A shares

** Barclays is the underwriter

** Private equity firm Summit owns ~30.83 mln of co's ~117 mln total Series A shares outstanding, per data compiled from SEC filings and LSEG

** KVYO shares on Wed finished up 3.8% at $31.48, leaving them down ~24% YTD

** Last Wed, stock rose 15% to $35.31 after co raised its annual rev forecast for second time in 2025

** 19 of 21 analysts rate KVYO "strong buy" or "buy", rest rate "hold" and median PT is $45 - LSEG