Main Management ETF Advisors LLC Sells 2,624 Shares of Klaviyo, Inc. (NYSE:KVYO)

Main Management ETF Advisors LLC lessened its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,192 shares of the company’s stock after selling 2,624 shares during the period. Main Management ETF Advisors LLC’s holdings in Klaviyo were worth $1,204,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KVYO. CIBC Private Wealth Group LLC boosted its position in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after purchasing an additional 818 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Klaviyo in the 4th quarter valued at approximately $196,000. US Bancorp DE acquired a new position in shares of Klaviyo during the fourth quarter worth $199,000. Finally, Keybank National Association OH bought a new stake in Klaviyo in the fourth quarter valued at approximately $203,000. Institutional investors own 45.43% of the company’s stock.

Analysts Set New Price Targets

KVYO has been the subject of a number of recent analyst reports. Mizuho decreased their price target on Klaviyo from $52.00 to $40.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group lowered their target price on shares of Klaviyo from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Barclays lifted their price target on Klaviyo from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price target on Klaviyo from $26.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Benchmark lifted their target price on shares of Klaviyo from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

Insider Activity at Klaviyo

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Eric Rowland sold 36,710 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $35.08, for a total value of $1,287,786.80. Following the completion of the sale, the president now directly owns 246,254 shares in the company, valued at $8,638,590.32. The trade was a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,073,770 shares of company stock valued at $67,259,606. Insiders own 49.92% of the company’s stock.

Klaviyo Trading Up 4.6%

KVYO stock opened at $37.53 on Wednesday. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $49.55. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of -208.50 and a beta of 1.35. The company’s 50 day moving average is $30.45 and its 200 day moving average is $37.34.

Klaviyo (NYSE:KVYO) last released its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. During the same quarter in the previous year, the company posted $0.13 EPS. Klaviyo’s quarterly revenue was up 33.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Klaviyo Company 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.