Advisors Asset Management Inc. Acquires 808 Shares of Klaviyo, Inc. (NYSE:KVYO)

Advisors Asset Management Inc. increased its holdings in Klaviyo, Inc. (NYSE:KVYO) by 145.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,363 shares of the company’s stock after purchasing an additional 808 shares during the quarter. Advisors Asset Management Inc.’s holdings in Klaviyo were worth $48,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KVYO. Janus Henderson Group PLC bought a new stake in Klaviyo in the first quarter valued at approximately $662,000. California State Teachers Retirement System bought a new stake in shares of Klaviyo in the 1st quarter valued at $818,000. Renaissance Capital LLC boosted its stake in shares of Klaviyo by 164.1% in the 2nd quarter. Renaissance Capital LLC now owns 33,424 shares of the company’s stock valued at $832,000 after purchasing an additional 20,766 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Klaviyo during the second quarter worth $236,000. Finally, Washington Capital Management Inc. bought a new position in Klaviyo during the second quarter worth $428,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KVYO shares. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Piper Sandler upped their target price on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Macquarie reissued a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. Finally, Benchmark cut their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Klaviyo Price Performance

NYSE:KVYO opened at $37.14 on Friday. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $41.00. The company has a market cap of $10.01 billion, a PE ratio of -206.32 and a beta of 1.13. The firm has a 50-day moving average of $36.62 and a 200-day moving average of $30.08.

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

Insider Transactions at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Monday, November 18th. The stock was 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 in the company, valued at approximately $13,672,488.96. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The disclosure for this sale can be found here. Insiders sold a total of 352,969 shares of company stock worth $11,447,138 in the last quarter. 53.24% of the stock is currently owned by corporate insiders.

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.