Barclays PLC Raises Stock Position in Klaviyo, Inc. (NYSE:KVYO)

Barclays PLC lifted its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 1,202.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,825 shares of the company’s stock after acquiring an additional 11,840 shares during the quarter. Barclays PLC’s holdings in Klaviyo were worth $453,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Whale Rock Capital Management LLC grew its stake in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after acquiring an additional 3,092,725 shares during the last quarter. SpiderRock Advisors LLC lifted its holdings in shares of Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC grew its position in shares of Klaviyo by 181.4% in the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after purchasing an additional 441,500 shares during the last quarter. Millennium Management LLC increased its stake in shares of Klaviyo by 53.6% during the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after purchasing an additional 390,849 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Klaviyo by 121.5% during the 3rd quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after purchasing an additional 369,400 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Price Performance

Klaviyo stock opened at $42.45 on Friday. The company has a market cap of $11.45 billion, a price-to-earnings ratio of -235.82 and a beta of 0.97. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $44.77. The stock’s 50-day moving average is $38.95 and its 200-day moving average is $32.98.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company’s revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.24) EPS. Research analysts anticipate that Klaviyo, Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $518,400.00. Following the sale, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at approximately $13,672,488.96. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,650 shares of company stock valued at $4,323,105 over the last three months. 53.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KVYO. Canaccord Genuity Group increased their target price on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald increased their price objective on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 target price for the company. Needham & Company LLC upped their target price on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, KeyCorp lifted their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.88.

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.