Klaviyo, Inc. (NYSE:KVYO) Stock Position Lessened by Claro Advisors LLC

Claro Advisors LLC trimmed its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,235,793 shares of the company's stock after selling 44,242 shares during the quarter. Klaviyo accounts for approximately 5.6% of Claro Advisors LLC's holdings, making the stock its largest position. Claro Advisors LLC owned approximately 0.46% of Klaviyo worth $43,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KVYO. Bank of New York Mellon Corp grew its position in 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 valued at $68,749,000 after buying an additional 2,406,973 shares during the period. SpiderRock Advisors LLC boosted its stake 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 acquiring an additional 471,500 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Klaviyo by 181.4% during the 3rd 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 during the last quarter. Millennium Management LLC grew its position in shares of Klaviyo by 53.6% during the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock valued at $27,889,000 after acquiring an additional 390,849 shares during the period. Finally, Whale Rock Capital Management LLC increased its stake in shares of Klaviyo by 122.0% in the 1st quarter. Whale Rock Capital Management LLC now owns 579,113 shares of the company's stock worth $14,756,000 after purchasing an additional 318,217 shares in the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Klaviyo Price Performance

Shares of Klaviyo stock traded down $1.79 during trading on Friday, hitting $35.16. The stock had a trading volume of 2,134,238 shares, compared to its average volume of 1,557,312. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $41.00. The firm's fifty day simple moving average is $35.77 and its 200-day simple moving average is $29.16.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) 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 quarter in the previous year, the business earned ($1.24) earnings per share. The company's revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, equities research analysts forecast that Klaviyo, Inc. will post 0.03 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on KVYO shares. Cantor Fitzgerald lifted their price objective on Klaviyo from $33.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Stifel Nicolaus initiated coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 price objective for the company. Needham & Company LLC lifted their target price on shares of Klaviyo from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. KeyCorp upgraded Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price target for the company in a research note on Thursday, August 8th. Finally, Benchmark decreased their price target on Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Insider Transactions at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the sale, the president now directly owns 192,488 shares in the company, valued at approximately $7,158,628.72. This represents a 8.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Summit Partners L. P sold 1,300 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $31.64, for a total transaction of $41,132.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 398,996 shares of company stock worth $12,753,416. 53.24% of the stock is currently owned by insiders.

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.