First Trust Advisors LP Increases Holdings in Klaviyo, Inc. (NYSE:KVYO)

First Trust Advisors LP increased its stake in Klaviyo, Inc. (NYSE:KVYO) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 945,663 shares of the company’s stock after acquiring an additional 197,283 shares during the period. First Trust Advisors LP owned approximately 0.35% of Klaviyo worth $38,999,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC boosted its holdings in shares of Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares during the period. SBI Securities Co. Ltd. bought a new stake in Klaviyo in the fourth quarter worth $196,000. US Bancorp DE purchased a new position in Klaviyo during the fourth quarter worth $199,000. Bank Julius Baer & Co. Ltd Zurich increased its position 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 valued at $220,000 after acquiring an additional 359 shares during the last quarter. Finally, Keybank National Association OH purchased a new stake in shares of Klaviyo in the fourth quarter valued at $203,000. 45.43% of the stock is owned by institutional investors.

Klaviyo Trading Up 10.3 %

Shares of NYSE KVYO opened at $28.95 on Friday. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $49.55. The stock’s fifty day simple moving average is $32.73 and its two-hundred day simple moving average is $37.78. The stock has a market capitalization of $7.91 billion, a PE ratio of -160.83 and a beta of 1.39.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data 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). The company had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. On average, equities analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the sale, the chief financial officer now owns 376,820 shares in the company, valued at approximately $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 36,710 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the transaction, the president now owns 246,254 shares in the company, valued at approximately $8,638,590.32. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,088,770 shares of company stock worth $67,947,356 in the last 90 days. 53.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on KVYO. Truist Financial dropped their price target on shares of Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Stephens started coverage on Klaviyo in a research note on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price on the stock. Scotiabank decreased their price target on Klaviyo from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday. Barclays reduced their target price on Klaviyo from $51.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Citigroup lifted their target price on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.47.

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.