144,530 Shares in Klaviyo, Inc. (NYSE:KVYO) Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC acquired a new position in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 144,530 shares of the company's stock, valued at approximately $5,113,000. Integrated Wealth Concepts LLC owned approximately 0.05% of Klaviyo as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock valued at $68,749,000 after purchasing an additional 2,406,973 shares during the last quarter. SpiderRock Advisors LLC boosted its holdings in shares of Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock valued at $17,743,000 after buying an additional 471,500 shares during the last quarter. Mayflower Financial Advisors LLC boosted its holdings in shares of Klaviyo by 181.4% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock valued at $24,233,000 after buying an additional 441,500 shares during the last quarter. Millennium Management LLC grew its stake in shares of Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock valued at $27,889,000 after buying an additional 390,849 shares in the last quarter. Finally, Claro Advisors LLC increased its holdings in Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock worth $31,860,000 after buying an additional 357,355 shares during the last quarter. Institutional investors own 45.43% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on KVYO shares. Piper Sandler increased their price target on shares of Klaviyo from $34.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Stifel Nicolaus initiated coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 target price for the company. KeyCorp upgraded Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price target for the company in a report on Thursday, August 8th. Benchmark dropped their price objective on Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company reiterated a "buy" rating on shares of Klaviyo in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.00.

Klaviyo Trading Down 2.3 %

NYSE KVYO traded down $0.89 during trading on Thursday, reaching $38.07. The company's stock had a trading volume of 1,407,757 shares, compared to its average volume of 1,180,705. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $41.00. The firm has a 50 day moving average price of $36.90 and a 200 day moving average price of $30.42. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of -211.49 and a beta of 0.97.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business had revenue of $235.09 million during the quarter, compared to analysts' expectations of $226.33 million. During the same period in the previous year, the company posted ($1.24) earnings per share. The firm's revenue for the quarter was up 33.7% compared to the same quarter last year. On average, equities analysts forecast that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other news, CTO Allen Chaves sold 130,000 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.85, for a total transaction of $4,140,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $518,400.00. Following the sale, the chief financial officer now owns 395,616 shares of the company's stock, valued at approximately $13,672,488.96. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 352,969 shares of company stock valued at $11,447,138. 53.24% of the stock is owned by corporate insiders.

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.