Handelsbanken Fonder AB Sells 1,800 Shares of Klaviyo, Inc. (NYSE:KVYO)

Handelsbanken Fonder AB cut its holdings in Klaviyo, Inc. (NYSE:KVYO) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,900 shares of the company’s stock after selling 1,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Klaviyo were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after acquiring an additional 646,628 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock valued at $159,535,000 after purchasing an additional 267,845 shares during the period. Bank of New York Mellon Corp increased its stake in Klaviyo by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock valued at $120,676,000 after purchasing an additional 140,127 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Klaviyo by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock worth $89,422,000 after purchasing an additional 19,567 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Klaviyo by 48.6% during the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after purchasing an additional 635,962 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction on Monday, May 19th. The shares were sold at an average price of $33.00, for a total transaction of $132,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jeff Fagnan acquired 3,900 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was bought at an average cost of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the transaction, the insider now directly owns 3,900 shares of the company’s stock, valued at approximately $100,503. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 8,087,320 shares of company stock valued at $268,247,195. 49.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on KVYO. The Goldman Sachs Group lowered their price objective on shares of Klaviyo from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Barclays increased their price target on Klaviyo from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Morgan Stanley decreased their price objective on Klaviyo from $50.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC lowered their target price on Klaviyo from $56.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Benchmark lifted their price target on shares of Klaviyo from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.21.

Klaviyo Stock Down 0.6%

KVYO stock opened at $33.40 on Monday. The company has a market cap of $9.92 billion, a price-to-earnings ratio of -185.56 and a beta of 1.44. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The business has a 50 day moving average price of $31.55 and a two-hundred day moving average price of $36.87.

Klaviyo (NYSE:KVYO) last released its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $279.83 million during the quarter, compared to analysts’ expectations of $267.79 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm’s revenue was up 33.3% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. On average, equities research analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.