JPMorgan Chase & Co. Sells 1,666,081 Shares of Klaviyo, Inc. (NYSE:KVYO)

JPMorgan Chase & Co. decreased its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 78.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 467,877 shares of the company's stock after selling 1,666,081 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.17% of Klaviyo worth $16,553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of KVYO. Advisors Asset Management Inc. raised its holdings in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock worth $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC bought a new position in Klaviyo in the third quarter worth about $53,000. Dark Forest Capital Management LP lifted its holdings in Klaviyo by 13.7% in the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company's stock worth $590,000 after buying an additional 2,851 shares during the period. West Tower Group LLC bought a new stake in Klaviyo during the 3rd quarter valued at approximately $177,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Klaviyo during the 3rd quarter worth approximately $208,000. 45.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Klaviyo from $37.00 to $41.00 and gave the company an "equal weight" rating in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. William Blair restated an "outperform" rating on shares of Klaviyo in a research note on Thursday, December 19th. Needham & Company LLC lifted their price objective on Klaviyo from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Loop Capital increased their target price on Klaviyo from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Four equities research 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.41.

Insider Activity at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 391,820 shares in the company, valued at $15,351,507.60. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 18,114 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the transaction, the president now directly owns 192,488 shares in the company, valued at approximately $7,158,628.72. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,650 shares of company stock valued at $6,582,805. Insiders own 53.24% of the company's stock.

Klaviyo Price Performance

Shares of KVYO stock traded down $1.71 during mid-day trading on Friday, hitting $39.39. The company had a trading volume of 1,541,088 shares, compared to its average volume of 885,298. The stock's 50 day moving average price is $39.24 and its 200-day moving average price is $33.84. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $44.77. The company has a market capitalization of $10.62 billion, a P/E ratio of -218.82 and a beta of 0.57.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. During the same period in the previous year, the business earned ($1.24) earnings per share. The firm's revenue for the quarter was up 33.7% on a year-over-year basis. On average, equities research analysts expect that Klaviyo, Inc. will post 0.03 earnings per share for the current year.

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.