Charles Schwab Investment Management Inc. Grows Holdings in Klaviyo, Inc. (NYSE:KVYO)

Charles Schwab Investment Management Inc. lifted its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 464,459 shares of the company's stock after acquiring an additional 40,102 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.17% of Klaviyo worth $19,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock worth $48,000 after acquiring an additional 808 shares during the period. SG Americas Securities LLC lifted its stake in Klaviyo by 21.4% in the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company's stock valued at $451,000 after purchasing an additional 1,923 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Klaviyo in the 4th quarter valued at approximately $196,000. US Bancorp DE bought a new position in Klaviyo in the 4th quarter valued at approximately $199,000. Finally, West Tower Group LLC bought a new position in Klaviyo in the 3rd quarter valued at approximately $177,000. Institutional investors own 45.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Klaviyo from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, February 20th. Canaccord Genuity Group increased their price objective on shares of Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Piper Sandler increased their price objective on shares of Klaviyo from $50.00 to $53.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Citigroup increased their price objective 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. Finally, Scotiabank increased their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.89.

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Insider Buying and Selling

In other news, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares in the company, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction dated Friday, March 14th. The shares were 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 have sold a total of 2,126,246 shares of company stock valued at $69,799,958 over the last ninety days. 53.24% of the stock is owned by corporate insiders.

Klaviyo Trading Up 0.3 %

NYSE KVYO traded up $0.08 on Friday, hitting $32.99. 887,667 shares of the company were exchanged, compared to its average volume of 1,199,659. The company has a market cap of $9.01 billion, a PE ratio of -183.30 and a beta of 0.86. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The stock has a fifty day moving average of $41.23 and a 200-day moving average of $38.71.

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

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.