UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.11 Million Stock Position in Klaviyo, Inc. (NYSE:KVYO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 30.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,655 shares of the company's stock after selling 25,962 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Klaviyo were worth $2,111,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted 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 period. Glynn Capital Management LLC boosted its position in shares of Klaviyo by 19.7% in the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company's stock valued at $33,944,000 after acquiring an additional 224,461 shares during the period. Claro Advisors LLC grew its stake in shares of Klaviyo by 38.7% in the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock valued at $31,860,000 after acquiring an additional 357,355 shares in the last quarter. Millennium Management LLC grew its stake in shares of Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock valued at $27,889,000 after acquiring an additional 390,849 shares in the last quarter. Finally, Mayflower Financial Advisors LLC increased its position in Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock worth $24,233,000 after acquiring an additional 441,500 shares during the period. 45.43% of the stock is owned by institutional investors.

Klaviyo Stock Up 6.6 %

Shares of KVYO stock traded up $2.57 on Monday, reaching $41.63. The company had a trading volume of 2,106,406 shares, compared to its average volume of 1,184,700. The business's 50-day moving average is $37.41 and its 200 day moving average is $31.16. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $41.75. The stock has a market capitalization of $11.22 billion, a PE ratio of -217.00 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 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same quarter in the prior year, the firm earned ($1.24) EPS. The firm's revenue was up 33.7% compared to the same quarter last year. On average, sell-side analysts forecast that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Benchmark cut their price objective on shares of Klaviyo from $42.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group boosted their price target on Klaviyo from $32.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays raised their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. KeyCorp upped their target price on Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Cantor Fitzgerald increased their target price on Klaviyo from $33.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.69.

Insider Activity

In related news, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $35.36, for a total value of $353,600.00. Following the completion of the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at $14,950,667.68. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the sale, the insider now directly owns 236,621 shares of the company's stock, valued at approximately $8,177,621.76. The trade was a 14.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,650 shares of company stock worth $4,676,705. Insiders own 53.24% of the company's stock.

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.