US Bancorp DE Acquires 1,960 Shares of Klaviyo, Inc. (NYSE:KVYO)

US Bancorp DE increased its holdings in Klaviyo, Inc. (NYSE:KVYO) by 40.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,792 shares of the company’s stock after purchasing an additional 1,960 shares during the quarter. US Bancorp DE’s holdings in Klaviyo were worth $206,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in Klaviyo by 45.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,171 shares of the company’s stock worth $254,000 after acquiring an additional 1,920 shares during the period. Russell Investments Group Ltd. acquired a new stake in Klaviyo during the 4th quarter worth about $686,000. Barclays PLC grew its holdings in Klaviyo by 128.2% during the 4th quarter. Barclays PLC now owns 29,263 shares of the company’s stock worth $1,207,000 after acquiring an additional 16,438 shares during the period. PEAK6 LLC acquired a new stake in Klaviyo during the 4th quarter worth about $1,281,000. Finally, First Trust Advisors LP grew its holdings in Klaviyo by 26.4% during the 4th quarter. First Trust Advisors LP now owns 945,663 shares of the company’s stock worth $38,999,000 after acquiring an additional 197,283 shares during the period. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

NYSE:KVYO opened at $31.51 on Friday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of -126.04 and a beta of 1.36. Klaviyo, Inc. has a 52 week low of $23.77 and a 52 week high of $49.55. The firm has a 50-day moving average price of $32.73 and a two-hundred day moving average price of $34.28.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $293.12 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.15 EPS. As a group, sell-side analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Analyst Ratings Changes

KVYO has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on Klaviyo from $40.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Benchmark increased their price objective on shares of Klaviyo from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Citigroup raised shares of Klaviyo from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $50.00 in a research report on Thursday, August 7th. Macquarie reissued a “neutral” rating and set a $37.00 price objective on shares of Klaviyo in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Klaviyo from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.65.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $31.66, for a total value of $474,900.00. Following the sale, the chief financial officer owned 517,831 shares of the company’s stock, valued at approximately $16,394,529.46. The trade was a 2.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction that occurred 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. In the last quarter, insiders have sold 8,044,158 shares of company stock valued at $266,823,776. 49.92% of the stock is owned by company insiders.

About Klaviyo

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.