Northern Trust Corp Acquires 26,143 Shares of Klaviyo, Inc. (NYSE:KVYO)

Northern Trust Corp lifted its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,888 shares of the company's stock after purchasing an additional 26,143 shares during the period. Northern Trust Corp owned 0.07% of Klaviyo worth $7,749,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC raised its stake in Klaviyo by 1,202.0% during the 3rd quarter. Barclays PLC now owns 12,825 shares of the company's stock worth $453,000 after buying an additional 11,840 shares during the period. Oak Ridge Investments LLC acquired a new stake in shares of Klaviyo in the 4th quarter valued at about $1,646,000. SG Americas Securities LLC raised its stake 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 valued at $451,000 after purchasing an additional 1,923 shares during the period. Renaissance Capital LLC raised its stake in shares of Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock valued at $5,058,000 after purchasing an additional 44,245 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of Klaviyo by 17,445.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 16,142 shares of the company's stock valued at $666,000 after purchasing an additional 16,050 shares during the period. 45.43% of the stock is currently owned by institutional investors.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Jeff Fagnan bought 3,900 shares of Klaviyo stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the acquisition, the insider now owns 3,900 shares in the company, valued at approximately $100,503. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 6,124,030 shares of company stock valued at $201,016,032 in the last 90 days. Company insiders own 49.92% of the company's stock.

Klaviyo Stock Down 0.8%

Shares of NYSE KVYO traded down $0.27 on Friday, reaching $33.43. 1,797,863 shares of the company's stock traded hands, compared to its average volume of 1,500,918. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The business's 50 day simple moving average is $30.62 and its two-hundred day simple moving average is $37.08. The company has a market cap of $9.93 billion, a price-to-earnings ratio of -185.74 and a beta of 1.35.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The company had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same quarter last year, the firm earned $0.13 earnings per share. The firm's quarterly revenue was up 33.3% compared to the same quarter last year. Analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on KVYO. Scotiabank set a $35.00 price target on Klaviyo and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Piper Sandler lifted their price target on shares of Klaviyo from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Stephens initiated coverage on shares of Klaviyo in a research report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on Klaviyo from $45.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Klaviyo presently 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.