Bank of New York Mellon Corp Cuts Stock Position in Klaviyo, Inc. $KVYO

Bank of New York Mellon Corp lessened its holdings in Klaviyo, Inc. (NYSE:KVYO) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,057,236 shares of the company’s stock after selling 220,784 shares during the quarter. Bank of New York Mellon Corp’s holdings in Klaviyo were worth $69,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. CWM LLC grew its position in Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company’s stock valued at $28,000 after buying an additional 646 shares during the period. State of Wyoming bought a new position in shares of Klaviyo during the 1st quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Klaviyo by 217.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock worth $43,000 after purchasing an additional 974 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Klaviyo by 17,273.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,606 shares of the company’s stock worth $88,000 after purchasing an additional 2,591 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Klaviyo by 22.7% in the first quarter. Advisors Asset Management Inc. now owns 2,731 shares of the company’s stock valued at $83,000 after purchasing an additional 506 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus decreased their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday. Wall Street Zen raised Klaviyo from a “hold” rating to a “buy” rating in a report on Saturday. Stephens dropped their price objective on shares of Klaviyo from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Cantor Fitzgerald cut their target price on shares of Klaviyo from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group lowered their price target on shares of Klaviyo from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Klaviyo Stock Up 5.6%

KVYO stock opened at $30.41 on Monday. The stock has a 50-day simple moving average of $28.73 and a two-hundred day simple moving average of $31.38. Klaviyo, Inc. has a twelve month low of $23.44 and a twelve month high of $49.55. The firm has a market capitalization of $9.12 billion, a PE ratio of -126.71 and a beta of 1.26.

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

Insider Buying and Selling at Klaviyo

In other news, CEO Andrew Bialecki sold 226,702 shares of Klaviyo stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total transaction of $7,141,113.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ed Hallen sold 89,748 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $31.71, for a total value of $2,845,909.08. Following the transaction, the director directly owned 177,776 shares of the company’s stock, valued at $5,637,276.96. The trade was a 33.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,741,781 shares of company stock valued at $180,719,288 in the last three months. Company insiders own 49.92% of the company’s stock.

Klaviyo 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.