Clearbridge Investments LLC Has $89.42 Million Position in Klaviyo, Inc. (NYSE:KVYO)

Clearbridge Investments LLC increased its holdings in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,168,336 shares of the company's stock after buying an additional 19,567 shares during the period. Clearbridge Investments LLC owned 0.80% of Klaviyo worth $89,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in KVYO. Vanguard Group Inc. increased its holdings in Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock valued at $318,449,000 after buying an additional 646,628 shares during the period. Whale Rock Capital Management LLC boosted its position in shares of Klaviyo by 608.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company's stock worth $127,389,000 after acquiring an additional 3,092,725 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Klaviyo by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company's stock valued at $120,676,000 after acquiring an additional 140,127 shares during the last quarter. American Century Companies Inc. raised its position in Klaviyo by 41.9% during the fourth quarter. American Century Companies Inc. now owns 1,209,612 shares of the company's stock valued at $49,884,000 after purchasing an additional 357,194 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Klaviyo by 45.1% during the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company's stock worth $27,827,000 after purchasing an additional 244,447 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

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Insider Activity

In related news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.18, for a total transaction of $587,700.00. Following the transaction, the chief financial officer now directly owns 391,820 shares of the company's stock, valued at $15,351,507.60. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's 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 have sold 2,126,246 shares of company stock valued at $69,799,958 in the last ninety days. 53.24% of the stock is owned by company insiders.

Klaviyo Trading Down 7.8 %

NYSE:KVYO traded down $2.17 on Friday, reaching $25.71. 3,427,929 shares of the stock traded hands, compared to its average volume of 1,257,294. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -142.85 and a beta of 1.39. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $49.55. The company's 50 day moving average is $39.26 and its 200-day moving average is $38.73.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates 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 forecast that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald lifted their price target on Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Needham & Company LLC boosted their target price on Klaviyo from $46.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. William Blair reissued an "outperform" rating on shares of Klaviyo in a report on Thursday, February 20th. Benchmark lifted their price target on shares of Klaviyo from $40.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, KeyCorp increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Klaviyo presently has a consensus rating of "Moderate Buy" and an average price target of $49.89.

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.