Clearbridge Investments LLC Purchases 19,567 Shares of Klaviyo, Inc. (NYSE:KVYO)

Clearbridge Investments LLC raised its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,168,336 shares of the company’s stock after buying an additional 19,567 shares during the quarter. Clearbridge Investments LLC owned about 0.80% of Klaviyo worth $89,422,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Whale Rock Capital Management LLC increased its position in Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after purchasing an additional 3,092,725 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after buying an additional 646,628 shares in the last quarter. Norges Bank bought a new stake in shares of Klaviyo in the 4th quarter worth about $25,197,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Klaviyo during the 4th quarter valued at about $19,751,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Klaviyo by 121.5% in the 3rd quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock valued at $23,828,000 after acquiring an additional 369,400 shares during the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird boosted their price objective on Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Barclays increased their price target on Klaviyo from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Needham & Company LLC lifted their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Morgan Stanley increased their target price on shares of Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company dropped their price target on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated 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 directly owns 349,623 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction dated 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 sale, the insider now directly owns 298,607 shares of the company’s stock, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. Insiders own 53.24% of the company’s stock.

Klaviyo Stock Down 2.5 %

Shares of KVYO opened at $30.25 on Tuesday. The company has a 50 day moving average of $40.37 and a two-hundred day moving average of $38.87. The company has a market cap of $8.26 billion, a price-to-earnings ratio of -168.06 and a beta of 0.86. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55.

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

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.