Dakota Wealth Management Decreases Stock Position in Klaviyo, Inc. (NYSE:KVYO)

Dakota Wealth Management trimmed its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 29.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,435 shares of the company's stock after selling 18,821 shares during the period. Dakota Wealth Management's holdings in Klaviyo were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. TFC Financial Management Inc. purchased a new stake in Klaviyo during the 1st quarter valued at $27,000. CWM LLC raised its holdings in Klaviyo by 227.5% during the 1st quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after buying an additional 646 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after buying an additional 1,102 shares during the period. Tower Research Capital LLC TRC raised its holdings in Klaviyo by 77.5% during the 4th 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 during the period. Finally, KBC Group NV purchased a new stake in Klaviyo during the 1st quarter valued at $77,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Down 0.1%

Shares of NYSE KVYO traded down $0.02 during mid-day trading on Friday, reaching $32.10. 107,821 shares of the company were exchanged, compared to its average volume of 1,815,426. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of -178.49 and a beta of 1.37. Klaviyo, Inc. has a 1 year low of $22.12 and a 1 year high of $49.55. The firm has a 50-day moving average of $33.65 and a 200 day moving average of $35.64.

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. The firm had revenue of $279.83 million during the quarter, compared to analysts' expectations of $267.79 million. Klaviyo had a positive return on equity of 0.74% and a negative net margin of 4.70%. The firm's quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. On average, equities analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Activity

In related news, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $31.66, for a total transaction of $474,900.00. Following the completion of the sale, the chief financial officer directly owned 517,831 shares in the company, valued at $16,394,529.46. This represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Landon Edmond sold 9,965 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $34.85, for a total value of $347,280.25. Following the sale, the insider owned 404,744 shares of the company's stock, valued at $14,105,328.40. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,094,418 shares of company stock worth $268,580,202 over the last ninety days. 49.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KVYO shares. Needham & Company LLC cut their price objective on Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group cut their price objective on Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley cut their price objective 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. Barclays upped their price objective on Klaviyo from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Scotiabank set a $35.00 price objective on Klaviyo and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Klaviyo has an average rating of "Moderate Buy" and a consensus price target of $42.47.

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.