BNP Paribas Financial Markets Purchases New Holdings in Klaviyo, Inc. (NYSE:KVYO)

BNP Paribas Financial Markets acquired a new position in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 334,638 shares of the company's stock, valued at approximately $13,800,000. BNP Paribas Financial Markets owned about 0.12% of Klaviyo at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KVYO. Vanguard Group Inc. grew its stake in shares of Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock worth $318,449,000 after acquiring an additional 646,628 shares during the period. Bank of New York Mellon Corp lifted its holdings in Klaviyo by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company's stock valued at $120,676,000 after purchasing an additional 140,127 shares during the last quarter. Clearbridge Investments LLC boosted its position in Klaviyo by 0.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company's stock worth $89,422,000 after purchasing an additional 19,567 shares during the period. Franklin Resources Inc. increased its stake in shares of Klaviyo by 48.6% in the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company's stock worth $80,151,000 after purchasing an additional 635,962 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Klaviyo by 47.1% in the fourth quarter. Voya Investment Management LLC now owns 1,851,679 shares of the company's stock valued at $76,363,000 after purchasing an additional 592,884 shares during the period. Institutional investors own 45.43% of the company's stock.

Klaviyo Stock Up 0.4 %

Shares of KVYO stock opened at $33.38 on Friday. The business has a 50-day moving average price of $30.54 and a two-hundred day moving average price of $37.37. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $49.55. The firm has a market cap of $9.12 billion, a P/E ratio of -185.44 and a beta of 1.35.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $279.83 million during the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. Klaviyo's revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. As a group, research analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Insider Activity at Klaviyo

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 36,710 shares of the company's stock in a transaction on 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 completion of the transaction, the president now owns 246,254 shares of the company's stock, valued at $8,638,590.32. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,073,770 shares of company stock valued at $67,259,606. Insiders own 49.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Klaviyo from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday. Cantor Fitzgerald lifted their price target on Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Mizuho dropped their price objective on Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Truist Financial reduced their target price on Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Benchmark increased their price target on shares of Klaviyo from $43.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Klaviyo presently has an average rating of "Moderate Buy" and a consensus target price of $43.11.

Klaviyo Company 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.

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