Vanguard Group Inc. Acquires 646,628 Shares of Klaviyo, Inc. (NYSE:KVYO)

Vanguard Group Inc. boosted its holdings in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,721,855 shares of the company's stock after purchasing an additional 646,628 shares during the quarter. Vanguard Group Inc. owned approximately 2.86% of Klaviyo worth $318,449,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in KVYO. Whale Rock Capital Management LLC increased its stake in shares of Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company's stock worth $127,389,000 after buying an additional 3,092,725 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Klaviyo by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company's stock worth $120,676,000 after acquiring an additional 140,127 shares in the last quarter. American Century Companies Inc. grew its holdings in Klaviyo by 41.9% during the 4th quarter. American Century Companies Inc. now owns 1,209,612 shares of the company's stock worth $49,884,000 after acquiring an additional 357,194 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Klaviyo by 45.1% in the 3rd quarter. Geode Capital Management LLC now owns 786,186 shares of the company's stock worth $27,827,000 after purchasing an additional 244,447 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Klaviyo by 121.5% in the 3rd quarter. Two Sigma Advisers LP now owns 673,500 shares of the company's stock valued at $23,828,000 after purchasing an additional 369,400 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, President Stephen Eric Rowland sold 36,710 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $35.08, for a total value of $1,287,786.80. Following the transaction, the president now directly owns 246,254 shares of the company's stock, valued at approximately $8,638,590.32. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo 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 2,086,246 shares of company stock worth $68,127,958 in the last 90 days. Company insiders own 53.24% of the company's stock.

Klaviyo Price Performance

Shares of KVYO traded down $0.44 during trading hours on Tuesday, reaching $26.00. 1,723,424 shares of the company's stock traded hands, compared to its average volume of 1,271,208. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of -144.42 and a beta of 1.39. The business's fifty day simple moving average is $38.14 and its two-hundred day simple moving average is $38.57. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55.

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

Analysts Set New Price Targets

Several analysts recently weighed in on KVYO shares. Mizuho boosted their price objective on Klaviyo from $42.00 to $52.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Stephens assumed coverage on Klaviyo in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price for the company. Barclays upped their price target on Klaviyo from $47.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Morgan Stanley lifted their price objective on shares of Klaviyo from $47.00 to $50.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group boosted their target price on shares of Klaviyo from $45.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.89.

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.