HighTower Advisors LLC Trims Holdings in Klaviyo, Inc. (NYSE:KVYO)

HighTower Advisors LLC lowered its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 402,491 shares of the company's stock after selling 32,476 shares during the quarter. HighTower Advisors LLC owned 0.15% of Klaviyo worth $14,243,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Lisanti Capital Growth LLC acquired a new stake in Klaviyo during the 3rd quarter valued at $5,513,000. Pier 88 Investment Partners LLC acquired a new position in shares of Klaviyo during the 3rd quarter worth $966,000. SpiderRock Advisors LLC raised its holdings in shares of Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock worth $17,743,000 after buying an additional 471,500 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Klaviyo during the 2nd quarter worth $747,000. Finally, Diker Management LLC raised its holdings in shares of Klaviyo by 33.3% during the 2nd quarter. Diker Management LLC now owns 200,000 shares of the company's stock worth $4,978,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.85, for a total transaction of $4,140,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 10,000 shares of the firm's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.36, for a total value of $353,600.00. Following the sale, the chief financial officer now owns 422,813 shares in the company, valued at $14,950,667.68. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 342,969 shares of company stock valued at $11,149,938. Company insiders own 53.24% of the company's stock.

Klaviyo Trading Up 4.4 %

Shares of KVYO traded up $1.67 on Friday, reaching $39.74. 1,841,648 shares of the company's stock traded hands, compared to its average volume of 1,638,591. The stock has a market cap of $10.72 billion, a PE ratio of -220.77 and a beta of 0.97. The stock's 50 day simple moving average is $37.00 and its two-hundred day simple moving average is $30.60. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $41.00.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. During the same period in the prior year, the company earned ($1.24) earnings per share. Klaviyo's revenue was up 33.7% compared to the same quarter last year. Analysts forecast that Klaviyo, Inc. will post 0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KVYO. Macquarie reaffirmed a "neutral" rating and issued a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Barclays upped their target price on Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Wells Fargo & Company reiterated a "buy" rating on shares of Klaviyo in a research report on Friday, October 18th. Canaccord Genuity Group upped their price target on Klaviyo from $32.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Benchmark cut their target price on Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo currently has an average rating of "Moderate Buy" and an average target price of $39.00.

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.