Cerity Partners LLC Has $2.91 Million Position in Klaviyo, Inc. (NYSE:KVYO)

Cerity Partners LLC decreased its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,504 shares of the company’s stock after selling 24,600 shares during the period. Cerity Partners LLC’s holdings in Klaviyo were worth $2,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Sierra Summit Advisors LLC acquired a new stake in shares of Klaviyo in the 4th quarter valued at $7,952,000. Russell Investments Group Ltd. bought a new stake in shares of Klaviyo during the 4th quarter worth $686,000. Wells Fargo & Company MN grew its position in Klaviyo by 45.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,171 shares of the company’s stock valued at $254,000 after acquiring an additional 1,920 shares during the last quarter. Bryce Point Capital LLC acquired a new position in Klaviyo during the fourth quarter worth about $877,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Klaviyo by 12.2% in the fourth quarter. Geode Capital Management LLC now owns 882,460 shares of the company’s stock worth $36,409,000 after acquiring an additional 96,274 shares during the last quarter. 45.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC increased their price target on Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Loop Capital boosted their price objective on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Cantor Fitzgerald lifted their price target on Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird upped their price objective on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.89.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the transaction, the president now owns 260,403 shares in the company, valued at approximately $10,426,536.12. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the sale, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at approximately $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,086,246 shares of company stock worth $67,940,758. 53.24% of the stock is owned by corporate insiders.

Klaviyo Price Performance

Shares of KVYO opened at $26.38 on Tuesday. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The company has a market cap of $7.20 billion, a PE ratio of -146.56 and a beta of 1.39. The stock has a 50-day moving average of $36.19 and a 200-day moving average of $38.33.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.