Bank of America Corp DE Has $11.41 Million Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

Bank of America Corp DE raised its holdings in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 276,697 shares of the company's stock after purchasing an additional 21,425 shares during the quarter. Bank of America Corp DE owned 0.10% of Klaviyo worth $11,411,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KVYO. CIBC Private Wealth Group LLC raised its stake in shares of Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after purchasing an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock valued at $77,000 after buying an additional 818 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Klaviyo during the fourth quarter valued at approximately $196,000. US Bancorp DE bought a new position in Klaviyo during the 4th quarter worth approximately $199,000. Finally, Keybank National Association OH acquired a new position in shares of Klaviyo in the 4th quarter worth approximately $203,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Stock Performance

Shares of KVYO stock traded down $0.22 during mid-day trading on Wednesday, hitting $33.64. 124,385 shares of the stock traded hands, compared to its average volume of 1,500,850. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of -186.66 and a beta of 1.35. The company's 50-day simple moving average is $30.65 and its 200-day simple moving average is $37.06.

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

Insider Activity

In other Klaviyo news, President Stephen Eric Rowland sold 36,710 shares of the firm'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 in the company, valued at $8,638,590.32. This trade represents a 12.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $33.00, for a total value of $132,000,000.00. The disclosure for this sale can be found here. Insiders sold 6,124,030 shares of company stock worth $201,016,032 over the last quarter. Corporate insiders own 49.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company raised their price target on shares of Klaviyo from $26.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Scotiabank set a $35.00 price objective on shares of Klaviyo and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Needham & Company LLC cut their target price on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Canaccord Genuity Group upped their target price on Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Five 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, the stock presently has a consensus 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.