610,994 Shares in Klaviyo, Inc. (NYSE:KVYO) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 610,994 shares of the company's stock, valued at approximately $25,197,000. Norges Bank owned 0.23% of Klaviyo as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KVYO. Vanguard Group Inc. lifted its holdings in shares of Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock valued at $318,449,000 after buying an additional 646,628 shares during the period. Two Sigma Advisers LP lifted its holdings in Klaviyo by 121.5% in the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company's stock valued at $23,828,000 after acquiring an additional 369,400 shares during the period. American Century Companies Inc. lifted its holdings in Klaviyo by 41.9% in the fourth quarter. American Century Companies Inc. now owns 1,209,612 shares of the company's stock valued at $49,884,000 after acquiring an additional 357,194 shares during the period. WCM Investment Management LLC purchased a new position in Klaviyo in the fourth quarter worth about $12,781,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Klaviyo during the 4th quarter valued at about $12,127,000. Hedge funds and other institutional investors own 45.43% of the company's stock.

Klaviyo Price Performance

Shares of KVYO stock traded down $0.34 during trading hours on Friday, hitting $27.03. The stock had a trading volume of 1,521,302 shares, compared to its average volume of 1,281,179. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -150.16 and a beta of 1.39. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The stock's 50-day moving average price is $36.63 and its two-hundred day moving average price is $38.37.

Remove Ads

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. As a group, equities research analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $26.70, for a total value of $400,500.00. Following the completion of the transaction, the chief financial officer now owns 553,943 shares in the company, valued at approximately $14,790,278.10. The trade was a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the 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. Insiders have sold a total of 2,086,246 shares of company stock valued at $67,940,758 over the last 90 days. 53.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Benchmark increased their price target on shares of Klaviyo from $40.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Citigroup boosted 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. Cantor Fitzgerald upped their price objective on Klaviyo from $47.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, KeyCorp lifted their target price on Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $49.89.

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.