Handelsbanken Fonder AB Takes Position in Klaviyo, Inc. (NYSE:KVYO)

Handelsbanken Fonder AB bought a new position in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,700 shares of the company's stock, valued at approximately $689,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock valued at $48,000 after purchasing an additional 808 shares during the last quarter. SG Americas Securities LLC increased 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 valued at $451,000 after acquiring an additional 1,923 shares during the last quarter. West Tower Group LLC acquired a new position in Klaviyo during the 3rd quarter worth $177,000. Victory Capital Management Inc. bought a new stake in Klaviyo during the 3rd quarter valued at approximately $208,000. Finally, New York State Common Retirement Fund raised its stake in Klaviyo by 41.0% during the 4th quarter. New York State Common Retirement Fund now owns 22,297 shares of the company's stock valued at $920,000 after purchasing an additional 6,488 shares during the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Price Performance

KVYO traded up $2.59 on Wednesday, hitting $40.32. 2,664,890 shares of the stock were exchanged, compared to its average volume of 1,224,306. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of -224.02 and a beta of 0.60. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The business has a 50-day moving average of $43.21 and a two-hundred day moving average of $38.57.

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Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly 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%. Equities research analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the sale, the insider now 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 SEC, which is available at this link. Also, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the sale, the chief financial officer now directly owns 376,820 shares in the company, valued at approximately $17,277,197. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock worth $4,720,953 over the last three months. Insiders own 53.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KVYO shares. Stifel Nicolaus raised their target price on Klaviyo from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Loop Capital boosted their target price on shares of Klaviyo from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Benchmark increased their price target on shares of Klaviyo from $40.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Macquarie restated a "neutral" rating and issued a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Finally, KeyCorp lifted 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. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.44.

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.