Klaviyo, Inc. (NYSE:KVYO) Shares Sold by Claro Advisors LLC

Claro Advisors LLC cut its holdings in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 96.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,544 shares of the company's stock after selling 1,235,491 shares during the quarter. Claro Advisors LLC's holdings in Klaviyo were worth $1,576,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KVYO. Bank of New York Mellon Corp raised its stake in Klaviyo by 677.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock valued at $68,749,000 after purchasing an additional 2,406,973 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Klaviyo by 243.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company's stock valued at $40,896,000 after buying an additional 1,042,902 shares during the period. Glynn Capital Management LLC boosted its position in Klaviyo by 291.3% during the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company's stock worth $29,030,000 after acquiring an additional 848,152 shares during the last quarter. Millennium Management LLC grew its stake in Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock worth $27,889,000 after acquiring an additional 390,849 shares during the period. Finally, Whale Rock Capital Management LLC grew its stake in 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 acquiring an additional 318,217 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Amanda Whalen sold 60,000 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the transaction, the chief financial officer now owns 435,993 shares in the company, valued at approximately $13,180,068.39. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Amanda Whalen sold 60,000 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the transaction, the chief financial officer now directly owns 435,993 shares in the company, valued at approximately $13,180,068.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 owns 192,488 shares in the company, valued at approximately $7,158,628.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 871,477 shares of company stock worth $27,610,861 in the last three months. 53.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wells Fargo & Company restated a "buy" rating on shares of Klaviyo in a report on Friday. Cantor Fitzgerald upped their price target on shares of Klaviyo from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. Piper Sandler increased their price target on shares of Klaviyo from $34.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday. KeyCorp raised shares of Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price objective for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 target price on shares of Klaviyo in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.87.

Klaviyo Trading Up 0.4 %

NYSE KVYO traded up $0.16 on Friday, hitting $37.52. 670,285 shares of the stock traded hands, compared to its average volume of 1,135,820. The stock has a 50-day moving average of $33.27 and a 200 day moving average of $27.18. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $38.50. The company has a market capitalization of $9.93 billion and a P/E ratio of -26.61.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm's revenue for the quarter was up 35.0% compared to the same quarter last year. As a group, equities research analysts expect that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

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.