Klaviyo, Inc. (NYSE:KVYO) Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,926,187 shares of the company's stock after purchasing an additional 140,127 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.09% of Klaviyo worth $120,676,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in shares of 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 in the last quarter. West Tower Group LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $177,000. Victory Capital Management Inc. purchased a new stake in shares of Klaviyo in the third quarter worth $208,000. Creative Planning purchased a new stake in Klaviyo during the 3rd quarter valued at about $254,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Klaviyo during the fourth quarter valued at approximately $374,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the transaction, the chief financial officer now owns 395,616 shares of the company's stock, valued at $15,852,333.12. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the sale, the president now owns 260,403 shares of the company's stock, valued at approximately $10,426,536.12. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock worth $4,720,953 over the last three months. Company insiders own 53.24% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently weighed in on KVYO. Barclays increased their price objective on shares of Klaviyo from $47.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. William Blair reissued an "outperform" rating on shares of Klaviyo in a research note on Thursday, February 20th. Cantor Fitzgerald raised their target price on shares of Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. KeyCorp increased their price target on Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, Macquarie reiterated a "neutral" rating and set a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.44.

Klaviyo Price Performance

Shares of KVYO traded up $2.59 during mid-day trading on Wednesday, reaching $40.32. The stock had a trading volume of 2,664,890 shares, compared to its average volume of 1,224,306. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $49.55. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of -224.02 and a beta of 0.60. The business's fifty day moving average is $43.21 and its 200 day moving average is $38.57.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The business had revenue of $270.16 million during the quarter, compared to analysts' expectations of $257.24 million. As a group, sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.