Arizona State Retirement System Increases Holdings in Klaviyo, Inc. (NYSE:KVYO)

Arizona State Retirement System lifted its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 22.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,684 shares of the company’s stock after acquiring an additional 3,830 shares during the quarter. Arizona State Retirement System’s holdings in Klaviyo were worth $626,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Focus Partners Wealth purchased a new position in Klaviyo in the 4th quarter valued at about $38,870,000. D. E. Shaw & Co. Inc. lifted its holdings in Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock worth $54,034,000 after acquiring an additional 866,749 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Klaviyo in the fourth quarter worth about $30,851,000. Ameriprise Financial Inc. lifted its holdings in Klaviyo by 229.5% in the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after acquiring an additional 684,026 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Klaviyo by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after acquiring an additional 646,628 shares during the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Trading Up 0.9%

Shares of KVYO stock opened at $32.51 on Tuesday. The firm has a market capitalization of $9.65 billion, a PE ratio of -180.58 and a beta of 1.37. The firm has a fifty day simple moving average of $33.63 and a two-hundred day simple moving average of $35.50. Klaviyo, Inc. has a 12 month low of $22.12 and a 12 month high of $49.55.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Klaviyo had a negative net margin of 4.70% and a positive return on equity of 0.74%. The business had revenue of $279.83 million for the quarter, compared to the consensus estimate of $267.79 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The company’s revenue was up 33.3% compared to the same quarter last year. On average, equities analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KVYO. Scotiabank set a $35.00 price objective on shares of Klaviyo and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upgraded shares of Klaviyo from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $32.00 to $40.00 in a research report on Friday, June 13th. Truist Financial decreased their price target on shares of Klaviyo from $55.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald raised shares of Klaviyo to an “overweight” rating and set a $48.00 price objective for the company in a research note on Tuesday, June 3rd. Finally, Piper Sandler lifted their target price on shares of Klaviyo from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.47.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $31.66, for a total value of $474,900.00. Following the sale, the chief financial officer directly owned 517,831 shares of the company’s stock, valued at $16,394,529.46. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 9,965 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $34.85, for a total value of $347,280.25. Following the completion of the sale, the insider directly owned 404,744 shares in the company, valued at $14,105,328.40. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,094,418 shares of company stock valued at $268,580,202 over the last quarter. Company insiders own 53.24% of the company’s stock.

Klaviyo 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.