Klaviyo, Inc. (NYSE:KVYO) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC increased its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,205,684 shares of the company’s stock after acquiring an additional 31,587 shares during the quarter. Clearbridge Investments LLC owned approximately 0.84% of Klaviyo worth $56,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cynosure Group LLC acquired a new position in Klaviyo in the first quarter valued at approximately $1,344,000. Blair William & Co. IL lifted its stake in shares of Klaviyo by 1,234.0% in the 1st quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock valued at $4,473,000 after purchasing an additional 162,373 shares during the last quarter. Swiss National Bank purchased a new position in shares of Klaviyo during the 1st quarter worth $1,776,000. Glynn Capital Management LLC increased its position in shares of Klaviyo by 291.3% during the 1st quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock worth $29,030,000 after purchasing an additional 848,152 shares during the last quarter. Finally, Wealthspire Advisors LLC purchased a new stake in Klaviyo in the 1st quarter valued at about $364,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Price Performance

KVYO traded down $0.55 on Wednesday, reaching $25.05. The company had a trading volume of 662,576 shares, compared to its average volume of 1,132,779. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $39.47. The stock has a 50-day moving average price of $23.74 and a 200-day moving average price of $24.94.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $202.08 million. Klaviyo’s quarterly revenue was up 34.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Klaviyo, Inc. will post -0.11 EPS for the current year.

Insider Activity

In other news, Director Jennifer Ceran sold 13,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.65, for a total transaction of $320,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 53.24% of the company’s stock.

Analysts Set New Price Targets

KVYO has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Klaviyo in a research note on Friday, May 17th. Barclays upgraded shares of Klaviyo from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $25.00 to $29.00 in a report on Wednesday, June 12th. Robert W. Baird decreased their price target on Klaviyo from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group dropped their price objective on Klaviyo from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Piper Sandler decreased their target price on Klaviyo from $38.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Four 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, Klaviyo has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

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.