Raymond James Financial Inc. Has $16.50 Million Stake in Klaviyo, Inc. $KVYO

Key Points

• Raymond James Financial Inc. increased its stake in Klaviyo, Inc. by 85.4% during the first quarter, purchasing 251,104 shares and bringing their total holdings to approximately $16.5 million.
• Analyst ratings for Klaviyo are mixed, with 18 analysts issuing Buy ratings, while Zacks Research rated the stock as a "strong sell," indicating varying levels of confidence in its future performance.
• In the past 90 days, insiders have sold a total of 4.3 million shares of Klaviyo stock, raising concerns among investors regarding insider sentiment about the company's prospects.

Raymond James Financial Inc. increased its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 85.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 545,159 shares of the company's stock after acquiring an additional 251,104 shares during the period. Raymond James Financial Inc. owned about 0.20% of Klaviyo worth $16,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC raised its holdings in shares of Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company's stock worth $28,000 after acquiring an additional 646 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Klaviyo by 5.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company's stock worth $589,000 after acquiring an additional 677 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Klaviyo by 77.5% during the fourth 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 period. Cabot Wealth Management Inc. raised its holdings in shares of Klaviyo by 1.0% during the first quarter. Cabot Wealth Management Inc. now owns 90,126 shares of the company's stock worth $2,727,000 after acquiring an additional 854 shares during the period. Finally, California State Teachers Retirement System raised its holdings in shares of Klaviyo by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 49,997 shares of the company's stock worth $2,062,000 after acquiring an additional 864 shares during the period. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Carmel Galvin sold 11,155 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $31.67, for a total value of $353,278.85. Following the transaction, the insider directly owned 675,833 shares of the company's stock, valued at $21,403,631.11. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $31.66, for a total transaction of $474,900.00. Following the completion of the transaction, the chief financial officer owned 517,831 shares in the company, valued at approximately $16,394,529.46. This trade represents a 2.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,314,085 shares of company stock worth $143,324,991. Corporate insiders own 53.24% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on KVYO. TD Cowen upped their price target on Klaviyo from $45.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Stifel Nicolaus cut their price objective on shares of Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Piper Sandler raised their target price on shares of Klaviyo from $40.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group cut their price target on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Benchmark raised their price objective on Klaviyo from $44.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.65.

Klaviyo Stock Performance

Shares of KVYO traded down $0.08 during midday trading on Friday, reaching $32.43. The stock had a trading volume of 1,388,053 shares, compared to its average volume of 2,675,759. The firm has a 50 day simple moving average of $32.35 and a 200-day simple moving average of $33.12. Klaviyo, Inc. has a one year low of $23.77 and a one year high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The company had revenue of $293.12 million during the quarter, compared to the consensus estimate of $275.97 million. During the same quarter last year, the firm posted $0.15 EPS. The company's quarterly revenue was up 31.9% on a year-over-year basis. Klaviyo has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

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.