Federated Hermes Inc. Lowers Stock Position in Klaviyo, Inc. (NYSE:KVYO)

Federated Hermes Inc. reduced its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,669,800 shares of the company's stock after selling 214,500 shares during the period. Federated Hermes Inc. owned 0.99% of Klaviyo worth $110,103,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KVYO. Charles Schwab Investment Management Inc. lifted its holdings in Klaviyo by 27.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,357 shares of the company's stock valued at $15,014,000 after purchasing an additional 91,824 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Klaviyo during the 3rd quarter valued at $481,000. FMR LLC boosted its holdings in Klaviyo by 428.1% in the 3rd quarter. FMR LLC now owns 100,982 shares of the company's stock worth $3,573,000 after buying an additional 81,861 shares during the period. State Street Corp boosted its holdings in Klaviyo by 7.9% in the 3rd quarter. State Street Corp now owns 435,448 shares of the company's stock worth $15,406,000 after buying an additional 32,034 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Klaviyo by 121.5% in the 3rd quarter. Two Sigma Advisers LP now owns 673,500 shares of the company's stock worth $23,828,000 after buying an additional 369,400 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Stock Down 3.0 %

KVYO traded down $0.82 during trading on Friday, reaching $26.55. The company had a trading volume of 561,091 shares, compared to its average volume of 1,277,247. The business has a 50 day simple moving average of $37.05 and a 200-day simple moving average of $38.42. The stock has a market cap of $7.25 billion, a P/E ratio of -147.24 and a beta of 1.39. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $49.55.

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Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings data 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). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The firm had revenue of $270.16 million during the quarter, compared to analysts' expectations of $257.24 million. As a group, equities research analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on KVYO shares. Robert W. Baird boosted their price objective on Klaviyo from $52.00 to $54.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Piper Sandler upped their price target on Klaviyo from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. The Goldman Sachs Group increased their price objective on shares of Klaviyo from $45.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, February 20th. KeyCorp boosted their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, Scotiabank raised their target price 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Klaviyo has an average rating of "Moderate Buy" and an average price target of $49.89.

Insider Activity

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction that occurred on 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 legal filing with the SEC, which is available at the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the sale, the president now directly owns 260,403 shares of the company's stock, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,071,246 shares of company stock valued at $67,540,258. 53.24% of the stock is currently owned by company insiders.

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.