Corient Private Wealth LLC Purchases New Position in Klaviyo, Inc. (NYSE:KVYO)

Corient Private Wealth LLC bought a new position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 30,064 shares of the company's stock, valued at approximately $1,240,000.

Other large investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich increased its position in Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock valued at $220,000 after purchasing an additional 359 shares during the period. Victory Capital Management Inc. raised its stake in Klaviyo by 10.3% in the fourth quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock worth $267,000 after buying an additional 604 shares in the last quarter. Arizona State Retirement System raised its stake in Klaviyo by 4.0% in the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock worth $695,000 after buying an additional 648 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock worth $48,000 after buying an additional 808 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Klaviyo by 21.4% during the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company's stock worth $451,000 after acquiring an additional 1,923 shares during the period. 45.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC lifted 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. KeyCorp upped their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Scotiabank increased their price target on shares of Klaviyo from $35.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 29th. Mizuho lifted their price target on shares of Klaviyo from $42.00 to $52.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Piper Sandler raised their target price 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. 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.89.

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Insiders Place Their Bets

In other Klaviyo 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 shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares of the company's stock, valued at approximately $15,351,507.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,126,246 shares of company stock worth $69,799,958. Company insiders own 53.24% of the company's stock.

Klaviyo Price Performance

Shares of KVYO traded down $1.92 during trading hours on Friday, hitting $30.95. The stock had a trading volume of 1,248,804 shares, compared to its average volume of 1,229,559. The firm has a market capitalization of $8.45 billion, a PE ratio of -171.93 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 price of $40.57 and a 200 day moving average price of $38.88.

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