State Street Corp Has $15.41 Million Stake in Klaviyo, Inc. (NYSE:KVYO)

State Street Corp lifted its holdings in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 7.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,448 shares of the company's stock after buying an additional 32,034 shares during the period. State Street Corp owned about 0.16% of Klaviyo worth $15,406,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lisanti Capital Growth LLC purchased a new stake in shares of Klaviyo during the 3rd quarter worth approximately $5,513,000. Pier 88 Investment Partners LLC acquired a new stake in Klaviyo in the 3rd quarter valued at about $966,000. SpiderRock Advisors LLC increased its holdings in Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock valued at $17,743,000 after acquiring an additional 471,500 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Klaviyo during the third quarter worth about $5,113,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Klaviyo in the second quarter valued at about $747,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Stock Performance

Shares of KVYO traded up $0.70 during midday trading on Wednesday, hitting $43.53. 381,981 shares of the stock traded hands, compared to its average volume of 1,203,003. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $44.77. The business's 50 day moving average price is $38.33 and its two-hundred day moving average price is $32.17. The firm has a market capitalization of $11.74 billion, a PE ratio of -241.82 and a beta of 0.97.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $226.33 million. During the same period in the previous year, the firm posted ($1.24) earnings per share. The business's revenue was up 33.7% on a year-over-year basis. As a group, equities research analysts forecast that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the transaction, the president now directly owns 186,785 shares of the company's stock, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $39.39, for a total transaction of $590,850.00. Following the completion of the transaction, the chief financial officer now directly owns 391,820 shares in the company, valued at $15,433,789.80. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,650 shares of company stock valued at $4,676,705 over the last ninety days. Insiders own 53.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KVYO shares. KeyCorp upped their target price on Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Cantor Fitzgerald increased their price objective on Klaviyo from $33.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Barclays lifted their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. William Blair restated an "outperform" rating on shares of Klaviyo in a report on Thursday, December 19th. Finally, Macquarie reiterated a "neutral" rating and set a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.88.

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.