Nuveen Asset Management LLC Has $12.54 Million Stock Position in Klaviyo, Inc. (NYSE:KVYO)

Nuveen Asset Management LLC trimmed its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 304,126 shares of the company's stock after selling 45,994 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.11% of Klaviyo worth $12,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Klaviyo by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock valued at $220,000 after purchasing an additional 359 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Klaviyo by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock worth $267,000 after buying an additional 604 shares during the period. Arizona State Retirement System increased its stake in shares of Klaviyo by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock valued at $695,000 after acquiring an additional 648 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company's stock valued at $589,000 after acquiring an additional 677 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock worth $77,000 after acquiring an additional 818 shares during the last quarter. 45.43% of the stock is owned by institutional investors.

Klaviyo Price Performance

NYSE KVYO traded up $0.47 during trading on Friday, reaching $33.98. 839,015 shares of the company's stock were exchanged, compared to its average volume of 1,892,403. The business has a 50 day moving average price of $30.66 and a 200-day moving average price of $37.03. The stock has a market capitalization of $10.09 billion, a P/E ratio of -188.75 and a beta of 1.35. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results 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 business had revenue of $279.83 million for the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The firm's revenue was up 33.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. On average, analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Activity at Klaviyo

In other news, insider Carmel Galvin sold 11,156 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the sale, the insider now directly owns 711,805 shares in the company, valued at approximately $24,920,293.05. This represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 36,710 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $35.08, for a total value of $1,287,786.80. Following the sale, the president now directly owns 246,254 shares in the company, valued at approximately $8,638,590.32. This trade represents a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,124,030 shares of company stock worth $201,016,032. Insiders own 49.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KVYO shares. The Goldman Sachs Group lowered their target price on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Citigroup upped their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised their price objective on Klaviyo from $26.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Scotiabank set a $35.00 price target on Klaviyo and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Finally, Robert W. Baird decreased their price objective on Klaviyo from $54.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Klaviyo currently has an average rating of "Moderate Buy" and a consensus target price of $43.11.

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.