New York State Common Retirement Fund Lowers Holdings in Klaviyo, Inc. (NYSE:KVYO)

New York State Common Retirement Fund decreased its holdings in Klaviyo, Inc. (NYSE:KVYO) by 30.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,499 shares of the company’s stock after selling 6,798 shares during the period. New York State Common Retirement Fund’s holdings in Klaviyo were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. TFC Financial Management Inc. acquired a new position in shares of Klaviyo in the 1st quarter valued at $27,000. CIBC Private Wealth Group LLC boosted its stake in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after acquiring an additional 818 shares in the last quarter. KBC Group NV purchased a new stake in shares of Klaviyo during the first quarter worth about $77,000. Finally, Alpha Wealth Funds LLC purchased a new position in Klaviyo in the 4th quarter valued at about $209,000. Institutional investors own 45.43% of the company’s stock.

Klaviyo Trading Up 0.8%

Shares of NYSE:KVYO opened at $33.00 on Friday. The firm’s 50 day moving average is $33.35 and its two-hundred day moving average is $35.27. Klaviyo, Inc. has a 52 week low of $22.12 and a 52 week high of $49.55. The firm has a market capitalization of $9.80 billion, a P/E ratio of -183.32 and a beta of 1.37.

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

Insider Activity at Klaviyo

In related news, insider Carmel Galvin sold 11,156 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $35.01, for a total value of $390,571.56. Following the transaction, the insider owned 711,805 shares in the company, valued at approximately $24,920,293.05. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $33.35, for a total transaction of $133,400,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,094,418 shares of company stock worth $268,580,202. Insiders own 49.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Klaviyo from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $40.00 in a research note on Friday, June 13th. Robert W. Baird cut their target price on Klaviyo from $54.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler boosted their target price on Klaviyo from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Benchmark upped their price objective on Klaviyo from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, Truist Financial cut their price objective on Klaviyo from $55.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.47.

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.