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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 30.3% in the third quarter, according to its most recent disclosure 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 period. 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KVYO. SG Americas Securities LLC purchased a new position in shares of Klaviyo during the 2nd quarter valued at about $236,000. Bank of New York Mellon Corp raised its position in Klaviyo by 677.7% during the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Klaviyo by 1,447.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,852 shares of the company’s stock valued at $668,000 after acquiring an additional 25,117 shares during the period. Claro Advisors LLC boosted its position in Klaviyo by 38.7% in the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after purchasing an additional 357,355 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Klaviyo during the 2nd quarter worth approximately $309,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KVYO shares. KeyCorp increased their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Macquarie restated a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. Benchmark lowered their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.69.

Klaviyo Stock Down 0.5 %

Shares of NYSE KVYO opened at $39.06 on Monday. The firm has a 50-day simple moving average of $37.41 and a 200-day simple moving average of $31.16. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $41.00. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of -217.00 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $226.33 million. During the same period in the prior year, the business earned ($1.24) earnings per share. The business’s revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts expect that Klaviyo, Inc. will post 0.03 EPS for the current year.

Insiders Place Their Bets

In related news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the transaction, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amanda Whalen sold 10,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,650 shares of company stock valued at $4,676,705 in the last three months. 53.24% of the stock is currently owned by insiders.

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.