JPMorgan Chase & Co. Has $3.47 Million Holdings in Klaviyo, Inc. (NYSE:KVYO)

JPMorgan Chase & Co. cut its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 82.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,144 shares of the company's stock after selling 383,733 shares during the quarter. JPMorgan Chase & Co.'s holdings in Klaviyo were worth $3,470,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KVYO. State Street Corp lifted its holdings in shares of Klaviyo by 7.9% in the 3rd quarter. State Street Corp now owns 435,448 shares of the company's stock worth $15,406,000 after acquiring an additional 32,034 shares during the last quarter. Barclays PLC raised its position in Klaviyo by 1,202.0% in the third quarter. Barclays PLC now owns 12,825 shares of the company's stock valued at $453,000 after purchasing an additional 11,840 shares during the period. Geode Capital Management LLC lifted its stake in Klaviyo by 45.1% during the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company's stock worth $27,827,000 after purchasing an additional 244,447 shares in the last quarter. Capital Investment Advisors LLC purchased a new position in shares of Klaviyo during the fourth quarter worth $621,000. Finally, Oak Ridge Investments LLC acquired a new stake in shares of Klaviyo in the fourth quarter valued at $1,646,000. Hedge funds and other institutional investors own 45.43% of the company's stock.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at $17,277,197. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,088,770 shares of company stock worth $67,947,356. Company insiders own 53.24% of the company's stock.

Klaviyo Stock Performance

Shares of NYSE:KVYO traded up $0.64 during trading hours on Friday, hitting $29.58. 1,818,319 shares of the company's stock traded hands, compared to its average volume of 1,331,614. The company's fifty day simple moving average is $32.38 and its two-hundred day simple moving average is $37.74. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $49.55. The company has a market cap of $8.08 billion, a price-to-earnings ratio of -164.33 and a beta of 1.39.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. On average, analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Truist Financial decreased their price target on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Scotiabank dropped their price target on shares of Klaviyo from $45.00 to $31.00 and set a "sector perform" rating for the company in a research note on Thursday. Benchmark increased their price objective on Klaviyo from $40.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley lowered their target price on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Klaviyo currently has an average rating of "Moderate Buy" and a consensus price target of $43.47.

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.