Charles Schwab Investment Management Inc. Purchases 91,824 Shares of Klaviyo, Inc. (NYSE:KVYO)

Charles Schwab Investment Management Inc. increased its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 27.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 424,357 shares of the company's stock after acquiring an additional 91,824 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.16% of Klaviyo worth $15,014,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of 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 worth $68,749,000 after purchasing an additional 2,406,973 shares during the period. Glynn Capital Management LLC raised its holdings in Klaviyo by 19.7% during the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company's stock worth $33,944,000 after buying an additional 224,461 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of Klaviyo by 38.7% in the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock valued at $31,860,000 after buying an additional 357,355 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Klaviyo by 53.6% during 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 during the last quarter. Finally, Mayflower Financial Advisors LLC increased its position in shares of Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock worth $24,233,000 after acquiring an additional 441,500 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Trading Up 4.4 %

Shares of KVYO stock traded up $1.67 during trading hours on Friday, reaching $39.74. The stock had a trading volume of 1,841,648 shares, compared to its average volume of 1,638,591. The stock's fifty day simple moving average is $37.00 and its 200 day simple moving average is $30.60. The firm has a market capitalization of $10.72 billion, a PE ratio of -220.77 and a beta of 0.97. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $41.00.

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

Insider Activity

In other news, President Stephen Eric Rowland sold 4,536 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of the sale, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 342,969 shares of company stock worth $11,149,938. 53.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KVYO has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a "buy" rating and a $45.00 price target for the company. Piper Sandler upped their price target on Klaviyo from $34.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Needham & Company LLC raised 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. Barclays upped their target price on shares of Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Finally, Canaccord Genuity Group boosted their target price on Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

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.