Klaviyo, Inc. (NYSE:KVYO) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc decreased its holdings in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 46.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 168,138 shares of the company's stock after selling 148,607 shares during the quarter. Polar Capital Holdings Plc owned 0.06% of Klaviyo worth $6,934,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Klaviyo by 9.1% in the 4th 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 raised its holdings in Klaviyo by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company's stock worth $120,676,000 after purchasing an additional 140,127 shares during the period. Clearbridge Investments LLC raised its holdings in Klaviyo by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company's stock worth $89,422,000 after purchasing an additional 19,567 shares during the period. Franklin Resources Inc. raised its holdings in shares of Klaviyo by 48.6% during 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 last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Klaviyo by 47.1% during 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 last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on KVYO. Piper Sandler increased their target price on Klaviyo from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Scotiabank set a $35.00 target price on Klaviyo and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Truist Financial reduced their target price on Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Barclays upped their price target on Klaviyo from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price target on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.11.

Klaviyo Stock Performance

Shares of KVYO traded down $0.38 during midday trading on Wednesday, hitting $33.64. 799,893 shares of the stock were exchanged, compared to its average volume of 1,481,019. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $49.55. The stock has a fifty day simple moving average of $30.60 and a 200 day simple moving average of $37.19. The firm has a market cap of $9.99 billion, a P/E ratio of -186.86 and a beta of 1.35.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business had revenue of $279.83 million during the quarter, compared to analyst estimates of $267.79 million. During the same period last year, the business posted $0.13 earnings per share. The company's quarterly revenue was up 33.3% on a year-over-year basis. As a group, equities research analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other news, President Stephen Eric Rowland sold 36,710 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $35.08, for a total value of $1,287,786.80. Following the sale, the president now directly owns 246,254 shares in the company, valued at approximately $8,638,590.32. This trade represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $33.00, for a total value of $132,000,000.00. The disclosure for this sale can be found here. Insiders sold a total of 6,124,030 shares of company stock worth $201,016,032 over the last ninety days. Company insiders own 49.92% of the company's stock.

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.