Nuveen Asset Management LLC Lowers Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

Nuveen Asset Management LLC reduced its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304,126 shares of the company's stock after selling 45,994 shares during the period. Nuveen Asset Management LLC owned about 0.11% of Klaviyo worth $12,542,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Focus Partners Wealth purchased a new position in Klaviyo during the 4th quarter valued at approximately $38,870,000. D. E. Shaw & Co. Inc. increased its stake in Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company's stock worth $54,034,000 after purchasing an additional 866,749 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Klaviyo during the 4th quarter worth $30,851,000. Ameriprise Financial Inc. grew its position in shares of Klaviyo by 229.5% during the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company's stock worth $40,507,000 after buying an additional 684,026 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock worth $318,449,000 after buying an additional 646,628 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Price Performance

Shares of KVYO traded up $0.55 on Friday, hitting $34.06. The company's stock had a trading volume of 2,091,264 shares, compared to its average volume of 1,505,427. The company has a market capitalization of $10.12 billion, a PE ratio of -189.22 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. The company has a 50 day moving average price of $30.66 and a 200 day moving average price of $37.01.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.14 EPS 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 analyst estimates of $267.79 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The business's quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. On average, equities analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insider Transactions at Klaviyo

In related news, President Stephen Eric Rowland sold 36,710 shares of Klaviyo stock in a transaction that occurred on 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 of the company's stock, valued at $8,638,590.32. This trade represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction on Monday, May 19th. The stock was sold at an average price of $33.00, for a total transaction of $132,000,000.00. The disclosure for this sale can be found here. Insiders sold a total of 6,124,030 shares of company stock worth $201,016,032 in the last three months. Insiders own 49.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on KVYO shares. Canaccord Genuity Group increased their price target on Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Citigroup boosted their price objective on Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. Robert W. Baird decreased their price target on Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial cut their price objective on Klaviyo from $55.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Piper Sandler upped their price target on Klaviyo from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Klaviyo currently has an average 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.