128,941 Shares in Klaviyo, Inc. (NYSE:KVYO) Purchased by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC acquired a new position in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 128,941 shares of the company's stock, valued at approximately $3,902,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock valued at $318,449,000 after purchasing an additional 646,628 shares during the period. Whale Rock Capital Management LLC raised its stake in Klaviyo by 7.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock valued at $159,535,000 after acquiring an additional 267,845 shares in the last quarter. Clearbridge Investments LLC raised its stake in Klaviyo by 0.9% during the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company's stock valued at $89,422,000 after acquiring an additional 19,567 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Klaviyo by 48.6% in the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company's stock worth $80,151,000 after buying an additional 635,962 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Klaviyo by 47.1% in the 4th 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KVYO. Needham & Company LLC lowered their price target on Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Robert W. Baird lowered their price target on Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Mizuho lowered their price target on Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Cantor Fitzgerald upgraded Klaviyo to an "overweight" rating and set a $48.00 target price on the stock in a research note on Tuesday, June 3rd. Finally, Morgan Stanley lowered their target price on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.47.

Klaviyo Trading Up 0.9%

KVYO stock opened at $32.51 on Tuesday. The business's 50-day moving average price is $33.63 and its two-hundred day moving average price is $35.50. The firm has a market cap of $9.65 billion, a PE ratio of -180.58 and a beta of 1.37. Klaviyo, Inc. has a 1-year low of $22.12 and a 1-year high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm 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 0.74% and a negative net margin of 4.70%. The company's revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. On average, analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other news, major shareholder Summit Partners L. P sold 4,000,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $33.35, for a total value of $133,400,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the business's 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 completion of the sale, the chief financial officer owned 517,831 shares of the company's stock, valued at approximately $16,394,529.46. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,094,418 shares of company stock valued at $268,580,202 in the last three months. Corporate insiders own 53.24% of the company's stock.

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.

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