Federated Hermes Inc. Purchases Shares of 575,276 Klaviyo, Inc. (NYSE:KVYO)

Federated Hermes Inc. acquired a new stake in Klaviyo, Inc. (NYSE:KVYO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 575,276 shares of the company’s stock, valued at approximately $15,981,000. Federated Hermes Inc. owned approximately 0.22% of Klaviyo at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rakuten Securities Inc. bought a new position in shares of Klaviyo in the fourth quarter valued at approximately $344,000. Salem Investment Counselors Inc. bought a new position in Klaviyo during the 4th quarter valued at $25,000. Moody National Bank Trust Division purchased a new position in Klaviyo during the 4th quarter worth $231,000. Renaissance Capital LLC purchased a new position in Klaviyo during the fourth quarter worth about $341,000. Finally, Vanguard Group Inc. bought a new position in shares of Klaviyo in the third quarter valued at approximately $49,833,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $24.15, for a total transaction of $85,611.75. Following the completion of the transaction, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Klaviyo Price Performance

Shares of KVYO opened at $22.96 on Tuesday. Klaviyo, Inc. has a 52-week low of $22.37 and a 52-week high of $39.47. The stock’s 50-day simple moving average is $25.93 and its 200 day simple moving average is $27.56.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $201.62 million during the quarter, compared to analysts’ expectations of $196.02 million. Sell-side analysts anticipate that Klaviyo, Inc. will post -0.27 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on KVYO. Barclays cut their price objective on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, January 12th. Cantor Fitzgerald began coverage on shares of Klaviyo in a report on Tuesday, April 16th. They issued an “overweight” rating and a $31.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price on shares of Klaviyo in a research note on Wednesday, February 28th. Finally, Scotiabank started coverage on shares of Klaviyo in a research note on Tuesday, April 2nd. They set a “sector perform” rating and a $30.00 price target for the company. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and an average target price of $36.88.

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.