PNC Financial Services Group Inc. lowered its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 31.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,931 shares of the company's stock after selling 69,333 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.05% of Klaviyo worth $4,476,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KVYO. TFC Financial Management Inc. acquired a new stake in shares of Klaviyo in the 1st quarter valued at $27,000. CWM LLC increased its holdings in Klaviyo by 227.5% in the first quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after buying an additional 646 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Klaviyo by 77.5% in the fourth 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 in the last quarter. KBC Group NV acquired a new stake in Klaviyo in the first quarter valued at $77,000. Finally, Alpha Wealth Funds LLC purchased a new stake in Klaviyo during the 4th quarter worth about $209,000. Institutional investors and hedge funds own 45.43% of the company's stock.
Insider Transactions at Klaviyo
In other Klaviyo news, insider Carmel Galvin sold 11,156 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the transaction, the insider owned 711,805 shares in the company, valued at approximately $24,920,293.05. This represents a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $33.35, for a total transaction of $133,400,000.00. 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 quarter. 49.92% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
KVYO has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. TD Cowen upped their price target on Klaviyo from $45.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday. Mizuho cut their price objective on shares of Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company upgraded shares of Klaviyo from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $32.00 to $40.00 in a research report on Friday, June 13th. Finally, Citigroup raised shares of Klaviyo from a "neutral" rating to a "buy" rating and increased their target price for the company from $40.00 to $50.00 in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.65.
Check Out Our Latest Research Report on KVYO
Klaviyo Stock Down 3.6%
NYSE KVYO opened at $34.05 on Friday. The firm has a market cap of $10.11 billion, a P/E ratio of -136.20 and a beta of 1.36. Klaviyo, Inc. has a 52-week low of $23.77 and a 52-week high of $49.55. The business's 50-day moving average price is $33.09 and its 200 day moving average price is $34.79.
Klaviyo (NYSE:KVYO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $293.12 million for 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 company's revenue was up 31.9% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. As a group, analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.
About Klaviyo
(
Free Report)
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.
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