Klaviyo, Inc. $KVYO Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Klaviyo, Inc. (NYSE:KVYO) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,467,933 shares of the company’s stock after acquiring an additional 746,078 shares during the period. Vanguard Group Inc. owned about 3.10% of Klaviyo worth $256,240,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in KVYO. Focus Partners Wealth purchased a new stake in shares of Klaviyo in the 4th quarter valued at $38,870,000. D. E. Shaw & Co. Inc. boosted its holdings in Klaviyo by 195.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock worth $54,034,000 after buying an additional 866,749 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Klaviyo during the fourth quarter worth $30,851,000. Ameriprise Financial Inc. boosted its holdings in Klaviyo by 229.5% during the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after buying an additional 684,026 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Klaviyo by 47.1% during the fourth quarter. Voya Investment Management LLC now owns 1,851,679 shares of the company’s stock worth $76,363,000 after buying an additional 592,884 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $31.66, for a total transaction of $474,900.00. Following the completion of the transaction, the chief financial officer owned 517,831 shares of the company’s stock, valued at $16,394,529.46. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Stephen Eric Rowland sold 7,079 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $31.56, for a total transaction of $223,413.24. Following the completion of the transaction, the president directly owned 435,845 shares of the company’s stock, valued at approximately $13,755,268.20. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,044,158 shares of company stock valued at $134,823,776 over the last 90 days. 53.24% of the stock is owned by company insiders.

Klaviyo Price Performance

Shares of KVYO stock opened at $32.00 on Tuesday. The firm has a market cap of $9.60 billion, a PE ratio of -128.00 and a beta of 1.36. The company has a 50-day moving average of $32.67 and a two-hundred day moving average of $34.01. Klaviyo, Inc. has a 1-year low of $23.77 and a 1-year high of $49.55.

Klaviyo (NYSE:KVYO) last announced its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $293.12 million during 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. Sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KVYO has been the subject of a number of research analyst reports. 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. Citigroup upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $50.00 in a research report on Thursday, August 7th. Benchmark upped 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. Wall Street Zen cut shares of Klaviyo from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Zacks Research upgraded shares of Klaviyo to a “strong sell” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and an average target price of $43.65.

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.