Klaviyo, Inc. (NYSE:KVYO) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its holdings in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 862.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,485 shares of the company's stock after purchasing an additional 52,406 shares during the period. Price T Rowe Associates Inc. MD's holdings in Klaviyo were worth $2,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CIBC Private Wealth Group LLC raised its holdings in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after acquiring an additional 1,102 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock worth $77,000 after purchasing an additional 818 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Klaviyo in the 4th quarter worth approximately $196,000. US Bancorp DE purchased a new position in shares of Klaviyo in the fourth quarter worth $199,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock worth $220,000 after acquiring an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 45.43% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KVYO. Citigroup lifted their target price on Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, February 11th. Piper Sandler increased their target price on Klaviyo from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group decreased their target price on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday. Cantor Fitzgerald boosted their price objective on shares of Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Stephens started coverage on shares of Klaviyo in a report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Klaviyo has a consensus rating of "Moderate Buy" and an average target price of $43.11.

Klaviyo Stock Performance

NYSE:KVYO traded up $0.14 during trading hours on Friday, reaching $33.38. The company's stock had a trading volume of 1,937,400 shares, compared to its average volume of 1,404,591. The stock has a 50 day moving average price of $30.54 and a two-hundred day moving average price of $37.37. The company has a market capitalization of $9.12 billion, a P/E ratio of -185.44 and a beta of 1.35. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $279.83 million during the quarter, compared to analysts' expectations of $267.79 million. During the same period in the prior year, the business posted $0.13 EPS. The firm's quarterly revenue was up 33.3% on a year-over-year basis. As a group, analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Insider Activity

In related news, President Stephen Eric Rowland sold 36,710 shares of the business's stock in a transaction 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 transaction, the president now directly owns 246,254 shares in the company, valued at $8,638,590.32. The trade was a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's stock in a transaction dated 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 ninety days, insiders have sold 2,073,770 shares of company stock worth $67,259,606. Corporate insiders own 49.92% of the company's stock.

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.