HighTower Advisors LLC Trims Holdings in Klaviyo, Inc. $KVYO

Key Points

• HighTower Advisors LLC significantly reduced its stake in Klaviyo, Inc. by 94.4% in the first quarter, selling 378,403 shares and retaining only 22,407 shares worth $678,000.
• Several institutional investors have shown interest in Klaviyo, with Vanguard Group increasing its stake by 9.7%, now owning over 8.4 million shares valued at $256 million.
• Analysts have mixed sentiments on Klaviyo, with Piper Sandler raising the price target to $55 while Zacks Research downgraded the stock to a "strong sell," and the average price target currently sits around $43.65.

HighTower Advisors LLC lowered its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 94.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,407 shares of the company's stock after selling 378,403 shares during the quarter. HighTower Advisors LLC's holdings in Klaviyo were worth $678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Klaviyo by 9.7% during the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock valued at $256,240,000 after acquiring an additional 746,078 shares in the last quarter. Encompass More Asset Management purchased a new stake in Klaviyo in the first quarter worth $549,000. WCM Investment Management LLC grew its stake in Klaviyo by 27.7% in the first quarter. WCM Investment Management LLC now owns 390,119 shares of the company's stock worth $12,101,000 after purchasing an additional 84,715 shares during the period. Bank of America Corp DE grew its stake in Klaviyo by 8.4% in the fourth quarter. Bank of America Corp DE now owns 276,697 shares of the company's stock worth $11,411,000 after purchasing an additional 21,425 shares during the period. Finally, Whale Rock Capital Management LLC grew its stake in Klaviyo by 7.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after purchasing an additional 267,845 shares during the period. Institutional investors own 45.43% of the company's stock.

Insider Buying and Selling

In related news, insider Landon Edmond sold 9,965 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $31.46, for a total value of $313,498.90. Following the transaction, the insider directly owned 392,584 shares of the company's stock, valued at approximately $12,350,692.64. The trade was a 2.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $31.66, for a total value of $474,900.00. Following the sale, the chief financial officer directly owned 517,831 shares in the company, valued at $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 sold 4,314,085 shares of company stock worth $143,324,991 in the last quarter. 53.24% of the stock is owned by insiders.

Klaviyo Price Performance

NYSE:KVYO traded down $0.08 during mid-day trading on Friday, reaching $32.43. The company's stock had a trading volume of 1,388,053 shares, compared to its average volume of 2,675,759. Klaviyo, Inc. has a 12-month low of $23.77 and a 12-month high of $49.55. The firm's fifty day moving average price is $32.35 and its two-hundred day moving average price is $33.12.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $293.12 million during the quarter, compared to the consensus estimate of $275.97 million. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%.The business's quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. Klaviyo has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KVYO. Stifel Nicolaus reduced their price target on Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Barclays upped their price target on Klaviyo from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. TD Cowen upped their price target on Klaviyo from $45.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Benchmark raised their price target on Klaviyo from $44.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company upgraded Klaviyo from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $32.00 to $40.00 in a report on Friday, June 13th. Eighteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $43.65.

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.