New York State Common Retirement Fund Increases Holdings in Klaviyo, Inc. (NYSE:KVYO)

New York State Common Retirement Fund grew its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 41.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,297 shares of the company’s stock after buying an additional 6,488 shares during the period. New York State Common Retirement Fund’s holdings in Klaviyo were worth $920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Lisanti Capital Growth LLC purchased a new stake in Klaviyo during the 3rd quarter worth about $5,513,000. Pier 88 Investment Partners LLC purchased a new stake in Klaviyo during the 3rd quarter worth about $966,000. SpiderRock Advisors LLC lifted its holdings in Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after buying an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Klaviyo in the 3rd quarter valued at about $5,113,000. Finally, Renaissance Capital LLC lifted its holdings in shares of Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after purchasing an additional 44,245 shares during the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the sale, the president now owns 260,403 shares in the company, valued at $10,426,536.12. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the sale, the insider now owns 298,607 shares in the company, valued at approximately $12,481,772.60. This represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,536 shares of company stock worth $4,720,953 in the last quarter. Company insiders own 53.24% of the company’s stock.

Klaviyo Trading Down 2.6 %

NYSE KVYO opened at $38.31 on Tuesday. The business’s 50 day moving average is $43.39 and its two-hundred day moving average is $38.51. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $49.55. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of -212.83 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (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 forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Robert W. Baird boosted their target price on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Citigroup upped their price objective on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Barclays upped their price objective on Klaviyo from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC upped their price objective on 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 fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

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.