JPMorgan Chase & Co. Decreases Holdings in Klaviyo, Inc. (NYSE:KVYO)

JPMorgan Chase & Co. cut its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 82.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,144 shares of the company’s stock after selling 383,733 shares during the quarter. JPMorgan Chase & Co.’s holdings in Klaviyo were worth $3,470,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in shares of Klaviyo during the fourth quarter valued at approximately $196,000. US Bancorp DE bought a new stake in Klaviyo in the 4th quarter worth $199,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Klaviyo by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock valued at $220,000 after acquiring an additional 359 shares during the period. Keybank National Association OH bought a new position in shares of Klaviyo during the fourth quarter valued at about $203,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Klaviyo during the fourth quarter worth about $241,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Stock Down 3.7 %

Shares of KVYO opened at $24.69 on Tuesday. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The company has a market capitalization of $6.74 billion, a P/E ratio of -137.17 and a beta of 1.39. The firm has a 50 day moving average of $33.98 and a 200 day moving average of $38.00.

Klaviyo (NYSE:KVYO) last posted its 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). The business had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. On average, sell-side analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial decreased their target price on Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald upped their price objective on shares of Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Loop Capital boosted their price target on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Wells Fargo & Company lowered their price objective on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, February 20th. Finally, Barclays cut their price objective on Klaviyo from $51.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and an average target price of $47.05.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 36,710 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was 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 trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Jeff Fagnan purchased 3,900 shares of Klaviyo stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average cost of $25.77 per share, with a total value of $100,503.00. Following the transaction, the insider now directly owns 3,900 shares in the company, valued at approximately $100,503. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 2,088,770 shares of company stock valued at $67,947,356. 53.24% of the stock is owned by insiders.

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.