294,055 Shares in Klaviyo, Inc. (NYSE:KVYO) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in shares of Klaviyo, Inc. (NYSE:KVYO) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 294,055 shares of the company’s stock, valued at approximately $12,127,000. Raymond James Financial Inc. owned about 0.11% of Klaviyo at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of KVYO. Victory Capital Management Inc. boosted its holdings in shares of Klaviyo by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock valued at $267,000 after buying an additional 604 shares during the period. Arizona State Retirement System boosted its stake in Klaviyo by 4.0% in the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock valued at $695,000 after acquiring an additional 648 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Klaviyo by 21.4% during the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company’s stock worth $451,000 after purchasing an additional 1,923 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Klaviyo in the 4th quarter worth approximately $196,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KVYO. KeyCorp increased their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Mizuho lifted their price objective on shares of Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird upped their target price on shares of Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Stephens started coverage on Klaviyo in a report on Wednesday. They set an “overweight” rating and a $43.00 price target on the stock. Finally, The Goldman Sachs Group increased their price objective on Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.11.

Insider Activity at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the transaction, the chief financial officer now directly owns 391,820 shares in the company, valued at $15,351,507.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. Company insiders own 53.24% of the company’s stock.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $32.81 on Thursday. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of -182.25 and a beta of 0.86. The company has a 50 day moving average price of $41.52 and a 200 day moving average price of $38.68. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $49.55.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. On average, sell-side analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.