Klaviyo, Inc. $KVYO is Glynn Capital Management LLC’s 7th Largest Position

Glynn Capital Management LLC boosted its position in Klaviyo, Inc. (NYSE:KVYO) by 33.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 705,258 shares of the company’s stock after purchasing an additional 174,941 shares during the period. Klaviyo comprises approximately 5.3% of Glynn Capital Management LLC’s holdings, making the stock its 7th largest position. Glynn Capital Management LLC owned about 0.24% of Klaviyo worth $23,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KVYO. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Klaviyo during the second quarter worth about $31,000. CWM LLC raised its stake in Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company’s stock valued at $28,000 after purchasing an additional 646 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Klaviyo in the second quarter valued at approximately $37,000. State of Wyoming purchased a new position in shares of Klaviyo during the 1st quarter worth $42,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Klaviyo by 217.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock worth $43,000 after buying an additional 974 shares during the period. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Price Performance

Klaviyo stock opened at $29.50 on Wednesday. Klaviyo, Inc. has a 12-month low of $23.44 and a 12-month high of $49.55. The stock has a market capitalization of $8.85 billion, a PE ratio of -122.91 and a beta of 1.26. The firm has a 50 day simple moving average of $28.64 and a 200-day simple moving average of $31.38.

Klaviyo (NYSE:KVYO) last released its earnings results on Thursday, September 25th. The company reported $0.16 EPS for the quarter. The business had revenue of $293.12 million for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. On average, analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ed Hallen sold 89,748 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the completion of the sale, the director directly owned 177,776 shares in the company, valued at approximately $5,637,276.96. This trade represents a 33.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Bialecki sold 163,331 shares of the business’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $24.37, for a total transaction of $3,980,376.47. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,741,781 shares of company stock worth $180,719,288 in the last quarter. Corporate insiders own 53.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price target (down previously from $50.00) on shares of Klaviyo in a report on Thursday, November 6th. The Goldman Sachs Group lowered their price objective on shares of Klaviyo from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, November 7th. KeyCorp lowered their target price on Klaviyo from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Benchmark restated a “buy” rating on shares of Klaviyo in a research note on Tuesday, November 4th. Finally, Robert W. Baird upped their price objective on Klaviyo from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

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.