Victory Capital Management Inc. Purchases 604 Shares of Klaviyo, Inc. (NYSE:KVYO)

Victory Capital Management Inc. raised its position in Klaviyo, Inc. (NYSE:KVYO) by 10.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,469 shares of the company’s stock after acquiring an additional 604 shares during the period. Victory Capital Management Inc.’s holdings in Klaviyo were worth $267,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of KVYO. Advisors Asset Management Inc. increased its position in shares of Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Klaviyo by 27.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,357 shares of the company’s stock worth $15,014,000 after purchasing an additional 91,824 shares during the last quarter. West Tower Group LLC acquired a new position in shares of Klaviyo during the 3rd quarter worth approximately $177,000. The Manufacturers Life Insurance Company acquired a new position in shares of Klaviyo during the 3rd quarter worth approximately $481,000. Finally, FMR LLC increased its holdings in shares of Klaviyo by 428.1% during the 3rd quarter. FMR LLC now owns 100,982 shares of the company’s stock worth $3,573,000 after acquiring an additional 81,861 shares during the last quarter. Institutional investors own 45.43% of the company’s stock.

Insider Buying and Selling

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $33.54, for a total value of $503,100.00. Following the transaction, the chief financial officer now owns 349,623 shares in the company, valued at approximately $11,726,355.42. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were 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 2,126,246 shares of company stock valued at $69,799,958 over the last 90 days. Company insiders own 53.24% of the company’s stock.

Klaviyo Price Performance

NYSE KVYO opened at $32.99 on Friday. The business has a 50 day simple moving average of $41.23 and a 200 day simple moving average of $38.71. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The stock has a market capitalization of $9.01 billion, a P/E ratio of -183.30 and a beta of 0.86.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KVYO. Mizuho boosted their target price on Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Morgan Stanley boosted their target price on Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Citigroup boosted their target price on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Needham & Company LLC boosted their target price on Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Barclays boosted their target price on Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Klaviyo Company 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.