Alliancebernstein L.P. Has $164.80 Million Stake in Klaviyo, Inc. (NYSE:KVYO)

Alliancebernstein L.P. cut its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,996,216 shares of the company's stock after selling 686,170 shares during the period. Alliancebernstein L.P. owned about 1.48% of Klaviyo worth $164,804,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KVYO. CIBC Private Wealth Group LLC grew its stake in shares of Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after purchasing an additional 1,102 shares during the period. SBI Securities Co. Ltd. acquired a new position in Klaviyo during the fourth quarter worth $196,000. US Bancorp DE acquired a new stake in shares of Klaviyo in the 4th quarter valued at $199,000. Keybank National Association OH bought a new position in Klaviyo during the 4th quarter valued at about $203,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock worth $220,000 after buying an additional 359 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KVYO has been the topic of several research reports. Piper Sandler upped their price target on shares of Klaviyo from $50.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. William Blair reiterated an "outperform" rating on shares of Klaviyo in a research report on Thursday, February 20th. Robert W. Baird raised their price target on shares of Klaviyo from $52.00 to $54.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Needham & Company LLC upped their price objective on Klaviyo from $46.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Barclays lifted their target price on Klaviyo from $47.00 to $51.00 and gave the company an "overweight" rating in a research note 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 data from MarketBeat, Klaviyo has a consensus rating of "Moderate Buy" and an average target price of $49.89.

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Klaviyo Stock Down 7.8 %

Klaviyo stock traded down $2.17 during mid-day trading on Friday, hitting $25.71. 3,427,929 shares of the company's stock were exchanged, compared to its average volume of 1,257,294. The company's 50 day simple moving average is $39.26 and its 200-day simple moving average is $38.73. The firm has a market capitalization of $7.02 billion, a P/E ratio of -142.85 and a beta of 1.39. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Research analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insider Activity

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

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.