Raymond James Financial Inc. Purchases Shares of 294,055 Klaviyo, Inc. (NYSE:KVYO)

Raymond James Financial Inc. bought a new position in Klaviyo, Inc. (NYSE:KVYO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 294,055 shares of the company's stock, valued at approximately $12,127,000. Raymond James Financial Inc. owned approximately 0.11% of Klaviyo as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in shares of Klaviyo by 4.0% during the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock valued at $695,000 after acquiring an additional 648 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Klaviyo by 10.3% during the fourth quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock valued at $267,000 after acquiring an additional 604 shares in the last quarter. Keybank National Association OH bought a new stake in shares of Klaviyo during the fourth quarter valued at approximately $203,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Klaviyo by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,459 shares of the company's stock valued at $19,154,000 after acquiring an additional 40,102 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Klaviyo during the fourth quarter valued at approximately $196,000. Institutional investors own 45.43% of the company's stock.

Insider Transactions at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 4,536 shares of the firm's stock in a transaction dated 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 owns 260,403 shares of the company's stock, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,126,246 shares of company stock worth $69,799,958. 53.24% of the stock is owned by company insiders.

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Klaviyo Trading Up 0.3 %

Shares of KVYO stock traded up $0.08 on Friday, hitting $32.99. 887,667 shares of the stock were exchanged, compared to its average volume of 1,199,659. The firm has a market capitalization of $9.01 billion, a PE ratio of -183.30 and a beta of 0.86. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The firm's 50 day moving average is $41.23 and its two-hundred day moving average is $38.71.

Klaviyo (NYSE:KVYO - Get Free Report) last posted 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, sell-side analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Loop Capital upped their price target on Klaviyo from $45.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, December 23rd. Cantor Fitzgerald increased their price target on Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Wells Fargo & Company lowered their price target on Klaviyo from $48.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, February 20th. Citigroup increased their price target on Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC increased their price target on Klaviyo from $46.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $49.89.

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.