The Manufacturers Life Insurance Company Makes New Investment in Klaviyo, Inc. (NYSE:KVYO)

The Manufacturers Life Insurance Company bought a new stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,608 shares of the company's stock, valued at approximately $481,000.

A number of other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of Klaviyo by 677.7% during 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 acquiring an additional 2,406,973 shares during the period. Glynn Capital Management LLC lifted its stake in Klaviyo by 19.7% in the 2nd quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company's stock valued at $33,944,000 after buying an additional 224,461 shares in the last quarter. Claro Advisors LLC lifted its stake in Klaviyo by 38.7% in the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock valued at $31,860,000 after buying an additional 357,355 shares in the last quarter. Millennium Management LLC lifted 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 valued at $27,889,000 after buying an additional 390,849 shares in the last quarter. Finally, Mayflower Financial Advisors LLC lifted its stake in Klaviyo by 181.4% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock valued at $24,233,000 after buying an additional 441,500 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.24, for a total transaction of $565,881.36. Following the completion of the sale, the president now owns 192,488 shares of the company's stock, valued at $6,013,325.12. This trade represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,764 shares of company stock valued at $9,383,087. 53.24% of the stock is currently owned by company insiders.

Klaviyo Price Performance

Shares of KVYO stock traded down $0.18 during trading on Friday, hitting $39.06. 910,807 shares of the stock traded hands, compared to its average volume of 1,180,864. The firm has a market capitalization of $10.53 billion, a P/E ratio of -217.00 and a beta of 0.97. The firm's fifty day moving average price is $37.41 and its 200-day moving average price is $31.16. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $41.00.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.24) EPS. As a group, equities research analysts expect that Klaviyo, Inc. will post 0.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KVYO. Canaccord Genuity Group raised their price target on shares of Klaviyo from $32.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Stifel Nicolaus began coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 price target on the stock. Robert W. Baird raised their price target on shares of Klaviyo from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Barclays raised their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company reaffirmed a "buy" rating on shares of Klaviyo in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.69.

Klaviyo 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.