Klaviyo, Inc. (NYSE:KVYO) is Glynn Capital Management LLC’s 4th Largest Position

Glynn Capital Management LLC trimmed its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 43.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 652,758 shares of the company’s stock after selling 506,821 shares during the period. Klaviyo makes up about 6.3% of Glynn Capital Management LLC’s holdings, making the stock its 4th biggest holding. Glynn Capital Management LLC owned 0.24% of Klaviyo worth $26,920,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KVYO. Bank Julius Baer & Co. Ltd Zurich increased its stake in Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after acquiring an additional 359 shares during the last quarter. Victory Capital Management Inc. increased its position in Klaviyo by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock worth $267,000 after purchasing an additional 604 shares in the last quarter. Arizona State Retirement System raised its holdings in Klaviyo by 4.0% in the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock valued at $695,000 after buying an additional 648 shares during the period. Advisors Asset Management Inc. lifted its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Klaviyo by 21.4% during the fourth quarter. SG Americas Securities LLC now owns 10,929 shares of the company’s stock worth $451,000 after buying an additional 1,923 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on KVYO shares. Scotiabank raised their target price on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. Loop Capital increased 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. Mizuho boosted their price target on Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC increased their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Stock Down 5.1 %

Shares of Klaviyo stock opened at $32.11 on Wednesday. The business has a 50-day moving average price of $41.68 and a 200 day moving average price of $38.73. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The firm has a market cap of $8.77 billion, a P/E ratio of -178.40 and a beta of 0.86.

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 analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. As a group, equities research analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 transaction of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. Company insiders own 53.24% of the company’s stock.

About Klaviyo

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.