Klaviyo, Inc. (NYSE:KVYO) Stock Position Decreased by Claro Advisors LLC

Claro Advisors LLC trimmed its stake in Klaviyo, Inc. (NYSE:KVYO) by 96.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,544 shares of the company’s stock after selling 1,235,491 shares during the quarter. Claro Advisors LLC’s holdings in Klaviyo were worth $1,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC purchased a new stake in shares of Klaviyo in the 1st quarter valued at approximately $662,000. Swiss National Bank acquired a new stake in shares of Klaviyo in the first quarter worth $1,776,000. Blair William & Co. IL boosted its position in shares of Klaviyo by 1,234.0% in the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after buying an additional 162,373 shares during the period. Salem Investment Counselors Inc. grew its holdings in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after buying an additional 1,450 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Klaviyo during the second quarter valued at $747,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $37.51 on Friday. The business’s 50-day simple moving average is $33.27 and its 200-day simple moving average is $27.16. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $38.50. The firm has a market cap of $9.92 billion and a price-to-earnings ratio of -26.60.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The company had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same quarter last year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. As a group, equities research analysts forecast that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jeff Fagnan bought 9,485 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $26.43 per share, for a total transaction of $250,688.55. Following the transaction, the insider now directly owns 9,485 shares of the company’s stock, valued at $250,688.55. The disclosure for this purchase can be found here. Insiders sold a total of 871,477 shares of company stock valued at $27,610,861 in the last quarter. Insiders own 53.24% of the company’s stock.

Analyst Ratings Changes

KVYO has been the subject of a number of research reports. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Klaviyo in a research report on Wednesday, September 4th. Robert W. Baird upped their price objective on shares of Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Barclays lifted their target price on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Benchmark initiated coverage on shares of Klaviyo in a research note on Monday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.87.

Klaviyo 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.