Klaviyo (NYSE:KVYO) Given New $48.00 Price Target at Wells Fargo & Company

Klaviyo (NYSE:KVYO) had its target price boosted by Wells Fargo & Company from $41.00 to $48.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

KVYO has been the topic of a number of other reports. Canaccord Genuity Group boosted their price target on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald lifted their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Loop Capital lifted their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, Scotiabank lifted their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.29.

Klaviyo Price Performance

Klaviyo stock opened at $47.50 on Wednesday. The company’s 50 day simple moving average is $42.60 and its 200-day simple moving average is $36.91. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55.

Insider Activity

In related news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at $13,672,488.96. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the sale, the insider now owns 236,621 shares of the company’s stock, valued at approximately $8,177,621.76. This trade represents a 14.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,072 shares of company stock worth $6,778,517. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of large investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in Klaviyo by 45.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,171 shares of the company’s stock worth $254,000 after buying an additional 1,920 shares during the last quarter. Bryce Point Capital LLC purchased a new position in Klaviyo during the 4th quarter worth $877,000. Geode Capital Management LLC raised its position in Klaviyo by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 882,460 shares of the company’s stock worth $36,409,000 after buying an additional 96,274 shares during the last quarter. Franklin Resources Inc. raised its position in Klaviyo by 48.6% during the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after buying an additional 635,962 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Klaviyo in the 4th quarter valued at about $1,934,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.