Glynn Capital Management LLC Reduces Stake in Klaviyo, Inc. (NYSE:KVYO)

Glynn Capital Management LLC lowered its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 43.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 652,758 shares of the company's stock after selling 506,821 shares during the period. Klaviyo comprises about 6.3% of Glynn Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Glynn Capital Management LLC owned 0.24% of Klaviyo worth $26,920,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. 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 during the period. West Tower Group LLC purchased a new stake in Klaviyo in the third quarter worth about $177,000. SBI Securities Co. Ltd. bought a new position in shares of Klaviyo in the fourth quarter worth about $196,000. US Bancorp DE bought a new position in shares of Klaviyo during the 4th quarter valued at approximately $199,000. Finally, Keybank National Association OH bought a new position in shares of Klaviyo during the 4th quarter valued at approximately $203,000. Hedge funds and other institutional investors own 45.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank raised their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 29th. Canaccord Genuity Group boosted their price objective on Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Robert W. Baird increased their target price on Klaviyo from $52.00 to $54.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Wells Fargo & Company lowered their price target on Klaviyo from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, February 20th. Finally, Morgan Stanley increased their price objective on shares of Klaviyo from $47.00 to $50.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.89.

Remove Ads

Klaviyo Price Performance

Shares of Klaviyo stock traded up $0.08 during trading on Friday, hitting $32.99. The stock had a trading volume of 887,667 shares, compared to its average volume of 1,199,659. The stock has a market cap of $9.01 billion, a PE ratio of -183.30 and a beta of 0.86. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The firm's fifty day simple moving average is $41.23 and its 200-day simple moving average is $38.71.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $270.16 million during 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%. Analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the sale, the chief financial officer now owns 391,820 shares in the company, valued at $15,351,507.60. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,126,246 shares of company stock valued at $69,799,958. Insiders own 53.24% of the company's stock.

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.