Corient Private Wealth LLC Invests $1.24 Million in Klaviyo, Inc. (NYSE:KVYO)

Corient Private Wealth LLC purchased a new stake in shares of Klaviyo, Inc. (NYSE:KVYO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 30,064 shares of the company’s stock, valued at approximately $1,240,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares during the period. SBI Securities Co. Ltd. purchased a new position in Klaviyo during the 4th quarter valued at about $196,000. US Bancorp DE purchased a new position in Klaviyo during the 4th quarter valued at about $199,000. Keybank National Association OH bought a new stake in Klaviyo during the fourth quarter worth about $203,000. Finally, Victory Capital Management Inc. purchased a new stake in Klaviyo in the third quarter worth about $208,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $39.18, for a total value of $587,700.00. Following the sale, the chief financial officer now owns 391,820 shares of the company’s stock, valued at $15,351,507.60. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,126,246 shares of company stock worth $69,799,958. Insiders own 53.24% of the company’s stock.

Klaviyo Stock Down 1.7 %

NYSE KVYO opened at $33.75 on Thursday. The business has a 50-day moving average price of $40.90 and a 200-day moving average price of $38.79. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of -187.47 and a beta of 0.86. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data 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 company had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. Research analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KVYO. Morgan Stanley boosted their price target on Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Mizuho boosted their target price on Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. KeyCorp raised their price target on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Loop Capital upped their price target on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, William Blair restated an “outperform” rating on shares of Klaviyo in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

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.