Klaviyo, Inc. (NYSE:KVYO) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE boosted its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,697 shares of the company's stock after acquiring an additional 21,425 shares during the quarter. Bank of America Corp DE owned about 0.10% of Klaviyo worth $11,411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KVYO. SG Americas Securities LLC boosted its holdings in shares of Klaviyo by 21.4% in the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company's stock worth $451,000 after purchasing an additional 1,923 shares during the period. Renaissance Capital LLC boosted its stake in Klaviyo by 56.4% during the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock worth $5,058,000 after buying an additional 44,245 shares during the period. Wilmington Savings Fund Society FSB increased its position in Klaviyo by 17,445.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 16,142 shares of the company's stock valued at $666,000 after acquiring an additional 16,050 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Klaviyo in the 4th quarter worth about $12,781,000. Finally, Legato Capital Management LLC lifted its holdings in shares of Klaviyo by 21.7% in the 4th quarter. Legato Capital Management LLC now owns 40,032 shares of the company's stock worth $1,651,000 after acquiring an additional 7,142 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on KVYO shares. Robert W. Baird reduced their price objective on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. William Blair reissued an "outperform" rating on shares of Klaviyo in a research note on Thursday, February 20th. Morgan Stanley dropped their price objective on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald increased their target price on Klaviyo from $47.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, Truist Financial lowered their target price on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Klaviyo has a consensus rating of "Moderate Buy" and an average price target of $43.11.

Klaviyo Price Performance

NYSE KVYO traded up $0.53 during midday trading on Tuesday, hitting $34.02. 605,895 shares of the company traded hands, compared to its average volume of 1,500,991. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $49.55. The company's 50-day simple moving average is $30.63 and its 200-day simple moving average is $37.08. The company has a market cap of $10.10 billion, a PE ratio of -189.06 and a beta of 1.35.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, topping 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 firm had revenue of $279.83 million during the quarter, compared to analysts' expectations of $267.79 million. During the same period in the prior year, the business posted $0.13 EPS. The firm's quarterly revenue was up 33.3% on a year-over-year basis. On average, research analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Activity

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the business's stock in a transaction 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 SEC, which can be accessed through the SEC website. Also, President Stephen Eric Rowland sold 36,710 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $35.08, for a total value 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 represents a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,124,030 shares of company stock worth $201,016,032. Corporate insiders own 49.92% of the company's stock.

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.