Franklin Resources Inc. Has $47.87 Million Stake in Klaviyo, Inc. (NYSE:KVYO)

Franklin Resources Inc. cut its holdings in Klaviyo, Inc. (NYSE:KVYO) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,307,561 shares of the company’s stock after selling 90,094 shares during the quarter. Franklin Resources Inc. owned about 0.48% of Klaviyo worth $47,870,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Klaviyo by 1,202.0% in the third quarter. Barclays PLC now owns 12,825 shares of the company’s stock worth $453,000 after buying an additional 11,840 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Klaviyo by 45.1% in the 3rd quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock worth $27,827,000 after purchasing an additional 244,447 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in Klaviyo during the third quarter worth approximately $1,126,000. XTX Topco Ltd grew its holdings in Klaviyo by 79.7% during the third quarter. XTX Topco Ltd now owns 43,775 shares of the company’s stock valued at $1,549,000 after purchasing an additional 19,412 shares during the last quarter. Finally, Whale Rock Capital Management LLC raised its position in shares of Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after purchasing an additional 3,092,725 shares during the period. 45.43% of the stock is owned by institutional investors.

Klaviyo Stock Up 3.7 %

NYSE:KVYO opened at $43.18 on Wednesday. The firm has a market capitalization of $11.64 billion, a PE ratio of -239.89 and a beta of 0.97. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $44.38. The firm has a 50-day moving average price of $37.69 and a 200 day moving average price of $31.44.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KVYO shares. Barclays raised their target price on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler lifted their price objective on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Canaccord Genuity Group increased their target price on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, KeyCorp increased their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.69.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This represents a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $35.36, for a total transaction of $353,600.00. Following the sale, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,650 shares of company stock worth $4,676,705 over the last three months. 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.