12,300 Shares in Klaviyo, Inc. (NYSE:KVYO) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,300 shares of the company's stock, valued at approximately $507,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KVYO. SBI Securities Co. Ltd. acquired a new position in Klaviyo in the 4th quarter valued at about $196,000. US Bancorp DE purchased a new position in shares of Klaviyo in the 4th quarter valued at approximately $199,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Klaviyo by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock valued at $220,000 after purchasing an additional 359 shares during the period. Keybank National Association OH acquired a new position in shares of Klaviyo in the fourth quarter valued at approximately $203,000. Finally, Victory Capital Management Inc. raised its stake in shares of Klaviyo by 10.3% during the fourth quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock worth $267,000 after purchasing an additional 604 shares during the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Trading Down 1.6 %

Shares of KVYO stock traded down $0.44 during trading hours on Tuesday, hitting $26.00. The company's stock had a trading volume of 1,723,424 shares, compared to its average volume of 1,271,208. The business has a fifty day moving average of $38.14 and a 200-day moving average of $38.57. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of -144.42 and a beta of 1.39.

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Klaviyo (NYSE:KVYO - Get Free Report) last announced 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 company had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. On average, equities analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the transaction, the chief financial officer now owns 376,820 shares of the company's stock, valued at $17,277,197. This represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,086,246 shares of company stock worth $68,127,958. 53.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KVYO. The Goldman Sachs Group boosted their price objective on shares of Klaviyo from $45.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Needham & Company LLC increased their price target on shares of Klaviyo from $46.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Citigroup raised their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. KeyCorp boosted their target price on Klaviyo from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus raised their price target on Klaviyo from $45.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.89.

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.