Capital Research Global Investors Sells 2,265,626 Shares of Klaviyo, Inc. (NYSE:KVYO)

Capital Research Global Investors trimmed its position in Klaviyo, Inc. (NYSE:KVYO) by 43.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,001,500 shares of the company’s stock after selling 2,265,626 shares during the period. Capital Research Global Investors owned about 1.11% of Klaviyo worth $123,782,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in KVYO. CIBC Private Wealth Group LLC raised its stake in shares of Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after buying an additional 1,102 shares during the period. SBI Securities Co. Ltd. bought a new position in Klaviyo during the fourth quarter worth about $196,000. US Bancorp DE bought a new stake in shares of Klaviyo in the fourth quarter valued at approximately $199,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock valued at $220,000 after buying an additional 359 shares in the last quarter. Finally, Keybank National Association OH bought a new position in Klaviyo in the 4th quarter worth approximately $203,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Down 1.0 %

NYSE:KVYO opened at $25.70 on Monday. The firm has a market capitalization of $7.02 billion, a P/E ratio of -142.75 and a beta of 1.39. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $49.55. The company has a fifty day moving average of $34.44 and a 200 day moving average of $38.07.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. As a group, analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Piper Sandler lifted their target price on Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Truist Financial cut their price objective on shares of Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Barclays upped their target price on shares of Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus boosted their price target on shares of Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.89.

Insider Activity at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at $17,277,197. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,088,770 shares of company stock worth $67,947,356 over the last quarter. Corporate insiders own 53.24% of the company’s stock.

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.