Franklin Resources Inc. Has $80.15 Million Stock Position in Klaviyo, Inc. (NYSE:KVYO)

Franklin Resources Inc. boosted its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 48.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,943,523 shares of the company's stock after buying an additional 635,962 shares during the quarter. Franklin Resources Inc. owned 0.72% of Klaviyo worth $80,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Klaviyo by 8.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock worth $220,000 after purchasing an additional 359 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Klaviyo by 10.3% in the fourth quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock valued at $267,000 after buying an additional 604 shares during the last quarter. Arizona State Retirement System raised its stake in Klaviyo by 4.0% during the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock valued at $695,000 after buying an additional 648 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock worth $72,000 after buying an additional 1,102 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Klaviyo by 21.4% in 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 in the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $33.54, for a total value of $503,100.00. Following the completion of the transaction, the chief financial officer now owns 349,623 shares in the company, valued at $11,726,355.42. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,086,246 shares of company stock valued at $68,127,958 over the last ninety days. Insiders own 53.24% of the company's stock.

Klaviyo Stock Up 3.2 %

NYSE KVYO traded up $0.84 on Tuesday, reaching $27.27. 347,512 shares of the stock traded hands, compared to its average volume of 1,443,510. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The company has a market cap of $7.45 billion, a price-to-earnings ratio of -151.51 and a beta of 1.39. The firm's fifty day simple moving average is $38.93 and its 200 day simple moving average is $38.71.

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

Wall Street Analyst Weigh In

KVYO has been the topic of several research analyst reports. Piper Sandler raised their price objective on Klaviyo from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Stifel Nicolaus raised their price target on shares of Klaviyo from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Robert W. Baird boosted their price objective on shares of Klaviyo from $52.00 to $54.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Morgan Stanley raised their target price on shares of Klaviyo from $47.00 to $50.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Finally, Scotiabank upped their target price on Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a report on Wednesday, January 29th. Five investment 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, the company has an average rating of "Moderate Buy" and an average price target of $49.89.

Klaviyo 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.