Stifel Financial Corp Acquires Shares of 8,834 Klaviyo, Inc. (NYSE:KVYO)

Stifel Financial Corp purchased a new stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,834 shares of the company's stock, valued at approximately $364,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in Klaviyo during the fourth quarter valued at $374,000. Handelsbanken Fonder AB acquired a new stake in Klaviyo during the fourth quarter worth approximately $689,000. Telemark Asset Management LLC acquired a new position in shares of Klaviyo in the 4th quarter valued at $4,124,000. Renaissance Capital LLC increased its stake in Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock valued at $5,058,000 after buying an additional 44,245 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in shares of Klaviyo during the 4th quarter worth $12,781,000. Hedge funds and other institutional investors own 45.43% of the company's stock.

Wall Street Analysts Forecast Growth

KVYO has been the topic of several recent research reports. Citigroup boosted their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Stephens initiated coverage on shares of Klaviyo in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price objective on the stock. Robert W. Baird decreased their price objective on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald boosted their price objective on shares of Klaviyo from $47.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Benchmark boosted their target price on shares of Klaviyo from $43.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Five investment 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.11.

Insider Buying and Selling at Klaviyo

In other news, President Stephen Eric Rowland sold 7,060 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $26.66, for a total transaction of $188,219.60. Following the transaction, the president now owns 447,310 shares in the company, valued at approximately $11,925,284.60. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's 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. Insiders sold a total of 2,073,770 shares of company stock worth $67,259,606 over the last ninety days. 49.92% of the stock is currently owned by corporate insiders.

Klaviyo Price Performance

Shares of KVYO stock opened at $37.53 on Wednesday. The stock's fifty day simple moving average is $30.45 and its 200 day simple moving average is $37.34. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of -208.50 and a beta of 1.35.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results 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 company had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The firm's quarterly revenue was up 33.3% on a year-over-year basis. On average, research analysts anticipate 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.

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