Klaviyo, Inc. (NYSE:KVYO) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its stake in shares of Klaviyo, Inc. (NYSE:KVYO) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,168,336 shares of the company’s stock after acquiring an additional 19,567 shares during the quarter. Clearbridge Investments LLC’s holdings in Klaviyo were worth $89,422,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock valued at $220,000 after purchasing an additional 359 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Klaviyo by 10.3% in the fourth quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock valued at $267,000 after buying an additional 604 shares in the last quarter. Arizona State Retirement System raised its position in shares of Klaviyo by 4.0% in the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock worth $695,000 after acquiring an additional 648 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Klaviyo by 21.4% during the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company’s stock valued at $451,000 after acquiring an additional 1,923 shares during the period. 45.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the transaction, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,126,246 shares of company stock valued at $69,799,958. 53.24% of the stock is owned by company insiders.

Klaviyo Price Performance

KVYO stock opened at $30.25 on Tuesday. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $49.55. The firm has a market capitalization of $8.26 billion, a PE ratio of -168.06 and a beta of 0.86. The business has a 50 day simple moving average of $40.37 and a 200-day simple moving average of $38.87.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The company had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. On average, equities research analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KVYO. Morgan Stanley increased their price target on Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Citigroup lifted their price target on shares of Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Needham & Company LLC upped their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Finally, KeyCorp boosted their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Klaviyo Company Profile

Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure.