Russell Investments Group Ltd. Takes Position in Klaviyo, Inc. (NYSE:KVYO)

Russell Investments Group Ltd. purchased a new stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,397 shares of the company's stock, valued at approximately $686,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KVYO. CIBC Private Wealth Group LLC lifted its holdings in 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 purchasing an additional 1,102 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Klaviyo during the fourth quarter worth $196,000. US Bancorp DE bought a new stake in shares of Klaviyo in the fourth quarter valued at about $199,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Klaviyo by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock valued at $220,000 after acquiring an additional 359 shares in the last quarter. Finally, Keybank National Association OH bought a new position in Klaviyo during the fourth quarter worth about $203,000. 45.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Stephen Eric Rowland sold 7,060 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total transaction of $188,219.60. Following the sale, the president now directly owns 447,310 shares of the company's stock, valued at $11,925,284.60. This represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,088,770 shares of company stock valued at $67,947,356 in the last ninety days. 53.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KVYO shares. Piper Sandler cut their price objective on shares of Klaviyo from $53.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday. Mizuho reduced their price target on Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley dropped their price objective on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group raised their price target on Klaviyo from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, 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. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Klaviyo presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.47.

Klaviyo Price Performance

Shares of NYSE KVYO traded up $0.64 during mid-day trading on Friday, hitting $29.58. 1,818,319 shares of the stock traded hands, compared to its average volume of 1,331,614. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The firm has a 50 day simple moving average of $32.38 and a two-hundred day simple moving average of $37.74. The company has a market cap of $8.08 billion, a PE ratio of -164.33 and a beta of 1.39.

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

About Klaviyo

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.