Focus Partners Wealth Makes New Investment in Klaviyo, Inc. (NYSE:KVYO)

Focus Partners Wealth purchased a new stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 942,523 shares of the company's stock, valued at approximately $38,870,000. Focus Partners Wealth owned 0.35% of Klaviyo as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Klaviyo by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock worth $318,449,000 after purchasing an additional 646,628 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Klaviyo by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company's stock valued at $120,676,000 after acquiring an additional 140,127 shares during the period. Clearbridge Investments LLC boosted its position in shares of Klaviyo by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company's stock valued at $89,422,000 after acquiring an additional 19,567 shares during the period. Franklin Resources Inc. boosted its position in shares of Klaviyo by 48.6% in the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company's stock valued at $80,151,000 after acquiring an additional 635,962 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Klaviyo by 47.1% in the fourth quarter. Voya Investment Management LLC now owns 1,851,679 shares of the company's stock valued at $76,363,000 after acquiring an additional 592,884 shares during the period. Institutional investors own 45.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Benchmark raised their price objective on shares of Klaviyo from $43.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their target price on shares of Klaviyo from $26.00 to $32.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Truist Financial lowered their target price on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley lowered their target price on shares of Klaviyo from $50.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Barclays raised their target price on shares of Klaviyo from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.11.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $26.70, for a total value of $400,500.00. Following the completion of the sale, the chief financial officer now directly owns 553,943 shares of the company's stock, valued at approximately $14,790,278.10. This represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Stephen Eric Rowland sold 36,710 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the completion of the sale, the president now directly owns 246,254 shares of the company's stock, valued at $8,638,590.32. This represents a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,073,770 shares of company stock worth $67,259,606 in the last quarter. Corporate insiders own 49.92% of the company's stock.

Klaviyo Price Performance

NYSE:KVYO traded down $3.20 during trading hours on Wednesday, hitting $34.30. The company had a trading volume of 4,859,759 shares, compared to its average volume of 1,427,520. The company has a market capitalization of $9.37 billion, a PE ratio of -190.56 and a beta of 1.35. The stock has a 50-day moving average price of $30.45 and a 200 day moving average price of $37.34. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $279.83 million for the quarter, compared to analysts' expectations of $267.79 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company's quarterly revenue was up 33.3% on a year-over-year basis. Analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.