Barclays PLC Increases Position in Klaviyo, Inc. (NYSE:KVYO)

Barclays PLC raised its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 128.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,263 shares of the company's stock after purchasing an additional 16,438 shares during the period. Barclays PLC's holdings in Klaviyo were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Sierra Summit Advisors LLC purchased a new position in shares of Klaviyo in the fourth quarter valued at $7,952,000. Russell Investments Group Ltd. purchased a new position in shares of Klaviyo in the 4th quarter worth $686,000. Wells Fargo & Company MN increased its holdings in shares of Klaviyo by 45.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,171 shares of the company's stock worth $254,000 after buying an additional 1,920 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in shares of Klaviyo during the 4th quarter valued at about $877,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Klaviyo by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 882,460 shares of the company's stock valued at $36,409,000 after acquiring an additional 96,274 shares during the last quarter. Hedge funds and other institutional investors own 45.43% of the company's stock.

Analysts Set New Price Targets

KVYO has been the topic of a number of recent research reports. Piper Sandler upped their price objective on Klaviyo from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday. Citigroup boosted their target price on Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. Benchmark raised their price target on Klaviyo from $43.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday. Canaccord Genuity Group boosted their price objective on shares of Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, Barclays raised their target price on shares of Klaviyo from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Klaviyo has a consensus rating of "Moderate Buy" and a consensus target price of $43.11.

Klaviyo Stock Up 6.9 %

Shares of NYSE KVYO traded up $2.18 during midday trading on Wednesday, reaching $33.78. 7,107,010 shares of the company's stock traded hands, compared to its average volume of 1,416,947. The company has a market cap of $9.23 billion, a price-to-earnings ratio of -187.67 and a beta of 1.35. The stock's 50 day simple moving average is $30.73 and its 200-day simple moving average is $37.44. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (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 the consensus estimate of $267.79 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business's revenue was up 33.3% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. Equities analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Stephen Eric Rowland sold 36,710 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the transaction, the president now directly owns 246,254 shares of the company's stock, valued at $8,638,590.32. This represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $25.77 per share, with a total value of $100,503.00. Following the acquisition, the insider now owns 3,900 shares of the company's stock, valued at approximately $100,503. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 2,073,770 shares of company stock worth $67,259,606. 53.24% of the stock is owned by corporate insiders.

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.