Marino Stram & Associates LLC Sells 10,967 Shares of Klaviyo, Inc. (NYSE:KVYO)

Marino Stram & Associates LLC decreased its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,901 shares of the company’s stock after selling 10,967 shares during the period. Marino Stram & Associates LLC’s holdings in Klaviyo were worth $1,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Klaviyo in the 3rd quarter valued at $53,000. Salem Investment Counselors Inc. raised its stake in Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after purchasing an additional 1,450 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Klaviyo during the first quarter worth about $71,000. SG Americas Securities LLC acquired a new stake in Klaviyo during the second quarter worth about $236,000. Finally, William Marsh Rice University acquired a new stake in Klaviyo during the third quarter worth about $245,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Benchmark initiated coverage on shares of Klaviyo in a report on Monday, September 30th. They set a “buy” rating and a $42.00 price target for the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a report on Friday. Cantor Fitzgerald boosted their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research note on Thursday, August 8th. Finally, Barclays boosted their target price on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.87.

Klaviyo Stock Up 0.8 %

Shares of NYSE KVYO traded up $0.29 during trading on Monday, reaching $37.81. The company had a trading volume of 235,356 shares, compared to its average volume of 1,131,384. The stock has a market cap of $10.00 billion and a P/E ratio of -26.61. The company’s fifty day moving average price is $33.27 and its 200-day moving average price is $27.20. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $38.50.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. As a group, equities analysts predict that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Insider Buying and Selling

In other Klaviyo news, major shareholder Jeff Fagnan purchased 9,485 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $26.43 per share, for a total transaction of $250,688.55. Following the acquisition, the insider now owns 9,485 shares in the company, valued at approximately $250,688.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.67, for a total transaction of $573,670.38. Following the transaction, the president now owns 192,488 shares in the company, valued at $6,096,094.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jeff Fagnan purchased 9,485 shares of Klaviyo stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares of the company’s stock, valued at approximately $250,688.55. The disclosure for this purchase can be found here. Insiders sold 871,477 shares of company stock valued at $27,610,861 over the last quarter. Insiders own 53.24% of the company’s stock.

Klaviyo 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.