Klaviyo, Inc. (NYSE:KVYO) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Klaviyo, Inc. (NYSE:KVYO) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,926,187 shares of the company’s stock after acquiring an additional 140,127 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.09% of Klaviyo worth $120,676,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KVYO. Advisors Asset Management Inc. grew its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the last quarter. West Tower Group LLC purchased a new position in shares of Klaviyo during the third quarter valued at $177,000. Victory Capital Management Inc. purchased a new position in shares of Klaviyo during the third quarter valued at $208,000. Creative Planning purchased a new position in shares of Klaviyo during the third quarter valued at $254,000. Finally, Aigen Investment Management LP purchased a new position in shares of Klaviyo during the third quarter valued at $335,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Klaviyo

In other 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 directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the sale, the chief financial officer now owns 376,820 shares in the company, valued at approximately $17,277,197. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock valued at $4,720,953 in the last quarter. Corporate insiders own 53.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KVYO shares. Robert W. Baird lifted their price target on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Citigroup lifted their price target on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Stifel Nicolaus lifted their price target on Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Mizuho boosted their target price on Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Loop Capital boosted their target price on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Klaviyo presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Stock Performance

NYSE KVYO opened at $39.19 on Friday. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The stock has a market capitalization of $10.70 billion, a PE ratio of -217.72 and a beta of 0.60. The stock has a 50-day simple moving average of $43.48 and a 200 day simple moving average of $38.41.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. As a group, equities research analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.