Geode Capital Management LLC Has $27.83 Million Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

Geode Capital Management LLC raised its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 45.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 786,186 shares of the company's stock after purchasing an additional 244,447 shares during the period. Geode Capital Management LLC owned 0.29% of Klaviyo worth $27,827,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. raised its holdings 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 buying an additional 808 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Klaviyo in the 3rd quarter valued at approximately $53,000. West Tower Group LLC acquired a new stake in Klaviyo in the 3rd quarter worth approximately $177,000. Victory Capital Management Inc. bought a new stake in Klaviyo during the third quarter worth approximately $208,000. Finally, William Marsh Rice University acquired a new position in Klaviyo during the third quarter valued at approximately $245,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Klaviyo Price Performance

Shares of Klaviyo stock traded down $0.60 during trading on Friday, hitting $42.77. 689,132 shares of the company's stock traded hands, compared to its average volume of 1,198,740. The company has a market cap of $11.53 billion, a PE ratio of -237.60 and a beta of 0.97. The firm's fifty day moving average price is $38.69 and its 200 day moving average price is $32.46. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $44.77.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating 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 company's quarterly revenue was up 33.7% on a year-over-year basis. As a group, equities research analysts anticipate that Klaviyo, Inc. will post 0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KVYO. Needham & Company LLC boosted their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. KeyCorp upped their price target on shares of Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Canaccord Genuity Group lifted their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Loop Capital increased their target price on Klaviyo from $45.00 to $60.00 and gave the company a "buy" rating in a research note on Monday. Finally, William Blair reaffirmed an "outperform" rating on shares of Klaviyo in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.88.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now directly owns 192,488 shares of the company's stock, valued at approximately $7,158,628.72. This represents a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the completion of the transaction, the chief financial officer now owns 422,813 shares of the company's stock, valued at $14,950,667.68. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,650 shares of company stock worth $4,676,705 over the last three months. 53.24% of the stock is currently owned by corporate insiders.

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.