Blair William & Co. IL Trims Holdings in Klaviyo, Inc. (NYSE:KVYO)

Blair William & Co. IL reduced its stake in shares of Klaviyo, Inc. (NYSE:KVYO) by 0.4% in the fourth quarter, Holdings Channel reports. The firm owned 206,224 shares of the company’s stock after selling 744 shares during the period. Blair William & Co. IL’s holdings in Klaviyo were worth $8,505,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KVYO. Advisors Asset Management Inc. boosted its position in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Klaviyo during the fourth quarter valued at approximately $196,000. US Bancorp DE purchased a new stake in shares of Klaviyo in the fourth quarter valued at approximately $199,000. Keybank National Association OH bought a new position in Klaviyo in the fourth quarter worth approximately $203,000. Finally, Victory Capital Management Inc. purchased a new position in Klaviyo during the 3rd quarter worth $208,000. 45.43% of the stock is currently owned by institutional investors.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $39.18, for a total value of $587,700.00. Following the sale, the chief financial officer now directly owns 391,820 shares in the company, valued at $15,351,507.60. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. Company insiders own 53.24% of the company’s stock.

Klaviyo Trading Down 5.9 %

NYSE:KVYO opened at $30.95 on Friday. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The company has a market cap of $8.45 billion, a PE ratio of -171.93 and a beta of 0.86. The company’s 50 day moving average is $40.57 and its two-hundred day moving average is $38.82.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The company had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. As a group, analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KVYO. Citigroup upped their target price on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Needham & Company LLC increased their target price on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group boosted their price target on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler increased their price objective on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, KeyCorp boosted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

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.