Charles Schwab Investment Management Inc. Boosts Holdings in Klaviyo, Inc. (NYSE:KVYO)

Charles Schwab Investment Management Inc. lifted its stake in Klaviyo, Inc. (NYSE:KVYO) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 464,459 shares of the company’s stock after purchasing an additional 40,102 shares during the period. Charles Schwab Investment Management Inc. owned 0.17% of Klaviyo worth $19,154,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in shares of Klaviyo in the 4th quarter worth about $196,000. US Bancorp DE bought a new position in shares of Klaviyo in the 4th quarter worth about $199,000. Bank of New York Mellon Corp increased its stake in shares of Klaviyo by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock worth $120,676,000 after acquiring an additional 140,127 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Klaviyo in the 4th quarter worth about $374,000. Finally, Handelsbanken Fonder AB bought a new position in shares of Klaviyo in the 4th quarter worth about $689,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Up 2.0 %

Shares of KVYO stock opened at $32.81 on Thursday. 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 52 week low of $21.26 and a 52 week high of $49.55. The firm has a market capitalization of $8.96 billion, a PE ratio of -182.25 and a beta of 0.86.

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

Insider Buying and Selling

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction that occurred 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 filing with the SEC, which is accessible through this link. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the transaction, the president now directly owns 260,403 shares in the company, valued at $10,426,536.12. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. 53.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on KVYO. Barclays increased their price target on shares of Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Piper Sandler increased their price target on shares of Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Cantor Fitzgerald raised their price objective on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. The Goldman Sachs Group raised their price objective on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC raised their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

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.