Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,177 Shares of Klaviyo, Inc. (NYSE:KVYO)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Klaviyo, Inc. (NYSE:KVYO) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,516 shares of the company’s stock after purchasing an additional 1,177 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Klaviyo were worth $379,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. TFC Financial Management Inc. acquired a new position in shares of Klaviyo in the 1st quarter valued at approximately $27,000. CWM LLC raised its position in shares of Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company’s stock valued at $28,000 after buying an additional 646 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after buying an additional 818 shares in the last quarter. KBC Group NV acquired a new position in shares of Klaviyo in the 1st quarter valued at approximately $77,000. Finally, Alpha Wealth Funds LLC acquired a new position in shares of Klaviyo in the 4th quarter valued at approximately $209,000. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

NYSE:KVYO opened at $32.35 on Friday. The firm’s fifty day moving average is $33.05 and its 200-day moving average is $34.72. Klaviyo, Inc. has a 52 week low of $23.77 and a 52 week high of $49.55. The firm has a market cap of $9.61 billion, a P/E ratio of -129.40 and a beta of 1.36.

Klaviyo (NYSE:KVYO) last issued its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $293.12 million for the quarter, compared to analyst estimates of $275.97 million. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. Klaviyo’s revenue was up 31.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. As a group, sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total transaction of $133,400,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Carmel Galvin sold 11,156 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $35.01, for a total transaction of $390,571.56. Following the transaction, the insider directly 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 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 90 days. Insiders own 49.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Klaviyo from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $40.00 in a research report on Friday, June 13th. Cantor Fitzgerald upgraded shares of Klaviyo to an “overweight” rating and set a $48.00 price objective for the company in a research report on Tuesday, June 3rd. Needham & Company LLC lowered their price objective on shares of Klaviyo from $56.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. 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. Finally, Morgan Stanley lowered their price objective on shares of Klaviyo from $50.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.65.

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.